Click on Chart to EnlargeQuick post in favor of time.....
This is a long term bond ETF. Generally moves inverse to stocks. Showed a bullish hammer reversal at support Friday and is holding up today. Buying now offers a good reward to risk and is pretty clearly worth the chance from a charting perspective.
New Trade:
Buy TLT today with a market order. Place a GTC sell stop at 92.00 immediately after entry and use that value for position sizing. Follow money management for trades with stops. 93.26 is the current price and will be the blog entry price.
This type of pattern will typically take off or fail right away, so it is important to have a stop in and a modest position size that you are willing to put a stop in and not worry about it.
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