TLT: Falling Wedge Double Bottom at .382 with Bullish Divergence
Updated
The TLT looks like it's trying to form a Double Bottom at the 0.382 Fibonacci Retracement, it is also Bullishly Diverging at this level, if it holds up I think it could go up to as high as $96 near the 200-period Simple Moving Average which would also fill the gap. From there I'd think it could continue back down.
I will be selling weekly puts around the lower 90 strike and buying weekly calls at the same level.
I will be selling weekly puts around the lower 90 strike and buying weekly calls at the same level.
Trade closed: target reached
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