morpheustrading
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Yesterday, we opened a long position in the ProShares UltraShort 20+ Year Treasury Bond ETF (TBT). Since breaking out of a six-month trading range and setting a new swing high on March 19th, TBT pulled back into support of its 20-day EMA.
On March 30th, TBT formed a reversal candle as it undercut its 20-day EMA, but recovered to close near session highs. The March 30th high provided the perfect entry point for a long entry in TBT:
So far, TBT is poised to open slightly lower than yesterday's close, which could provide a secondary entry point for those who missed the trend reversal breakout entry.
On March 30th, TBT formed a reversal candle as it undercut its 20-day EMA, but recovered to close near session highs. The March 30th high provided the perfect entry point for a long entry in TBT:
So far, TBT is poised to open slightly lower than yesterday's close, which could provide a secondary entry point for those who missed the trend reversal breakout entry.
