It was weird..just a few minutes ago I was scanning through some charts on FreeStockCharts and noticed that TLT, the 20+ year long bond etf, stalled out an upward advancement right at a green line that had been marked on the chart last summer. Marking certain charts with red and green lines used to be common practice for me. I haven't done it in a while but I do like to look at where price action is compared to old support and resistance lines..especially when price reverses right at one. Check out the chart:
Hopefully all of you are not just holding up but also profiting from this market. Volatility can be a great thing for certain styles of trading. I think the worst is likely over, but you never know.
TLT
Hopefully all of you are not just holding up but also profiting from this market. Volatility can be a great thing for certain styles of trading. I think the worst is likely over, but you never know.
TLT
1 comment:
Great observation. I always like to take support and resistance into consideration in my trading strategy.
Wish you all success!
Ben
www.foreign-currency-trading-information.com
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