Nice moves in TLT/TBT today.
TLT formed a cup w.handle pattern and reached it's measured move target to the upside.
Things later fell-apart, and given a close near this current level, TBT (inverse of TLT) looks like it may close as a hammer after a steep pullback, and could have some more upside from here. Also, I'm watching potential for a "Slingshot" setup, where price put in a higher swing low, combined with a lower momentum low.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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