TLT: Weekly long setup
Updated
We have a potentially very good trade here.
The recent outperformance of HYG (and the crude oil rally) have boosted the stock market but I still think it's possible to see another sharp decline.
The market is under Mario Draghi's and China's sweet talk influence right now, as I see it.
I'm out of equity longs for the time being, and positioned in a more risk averse manner.
I still think the bottom is near, and won't hesitate in going long certain equities once I see a valid setup, as we have been doing with my group for a while.
Cheers,
Ivan Labrie.
The recent outperformance of HYG (and the crude oil rally) have boosted the stock market but I still think it's possible to see another sharp decline.
The market is under Mario Draghi's and China's sweet talk influence right now, as I see it.
I'm out of equity longs for the time being, and positioned in a more risk averse manner.
I still think the bottom is near, and won't hesitate in going long certain equities once I see a valid setup, as we have been doing with my group for a while.
Cheers,
Ivan Labrie.
Note
Holding this one as insurance.Note
Trailing the stop up to the entry is a wise thing to do.Note
Excellent progress.I'd reccomend taking partial profits and moving stop to entry price.
Note
Was a wise move, now with reduced risk free position, we can trade around it.Note
New weekly high, very nice. Hold position.Note
At this pace we'll hit my target very soon.Move stops to protect profits: 126.67
Add to winner as follows, long 1/2 at:
127.85 and 127.26
Stop: 126.67
Target: 129.04
Keep main position until we hit the target above.
Trade closed manually
Exit and cancel pending orders for now.Note
Great rally so far, We might be able to reenter soon, but I'd wait for a safe setup.Note
Almost at the target.Note
I reccomend closing longs or trailing stops closely.Trade closed: target reached
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