TLT t.a. & set up 9.21.19
TLT is showing signs of an overall uptrend pattern since Nov '18 on the daily timeframe.
TLT price has a history of "breaking into a strong uptrend" after the following pattern/sequence is met:
1. EMA21 fails as support during a pullback, signaling a potential dip buy opportunity
2. Price retests EMA21 as resistance and then breaks back above it, signaling bullish momentum
3. RSI level breaks above it's own SMA50, signaling a strong uptrend may follow
A potential entry could be; price remains above EMA21 & RSI confirms a break above the RSI SMA50.
A potential exit target; when RSI level becomes overbought near 70+ level @ +2.5%
A potential stop set at; any "end of day" close below the EMA21 level @ -0.50%
LONG position offers good risk/reward ratio of 5:1
TLT price has a history of "breaking into a strong uptrend" after the following pattern/sequence is met:
1. EMA21 fails as support during a pullback, signaling a potential dip buy opportunity
2. Price retests EMA21 as resistance and then breaks back above it, signaling bullish momentum
3. RSI level breaks above it's own SMA50, signaling a strong uptrend may follow
A potential entry could be; price remains above EMA21 & RSI confirms a break above the RSI SMA50.
A potential exit target; when RSI level becomes overbought near 70+ level @ +2.5%
A potential stop set at; any "end of day" close below the EMA21 level @ -0.50%
LONG position offers good risk/reward ratio of 5:1
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