IvanLabrie

TLT: Weekly long setup

Long
IvanLabrie Updated   
AMEX:TLT   None
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.
Comment:
Holding this one as insurance.
Comment:
Trailing the stop up to the entry is a wise thing to do.
Comment:
Excellent progress.
I'd reccomend taking partial profits and moving stop to entry price.
Comment:
Was a wise move, now with reduced risk free position, we can trade around it.
Comment:
New weekly high, very nice. Hold position.
Comment:
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.
Comment:
Great rally so far, We might be able to reenter soon, but I'd wait for a safe setup.
Comment:
Almost at the target.
Comment:
I reccomend closing longs or trailing stops closely.
Trade closed: target reached

🔒Want to dive deeper? Check out my paid services below🔒

ivanlabrie.substack.com/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.