TLT launched sharply higher from within 8 cents of the 89.47 Hidden Pivot I flagged here two weeks ago. The thrust generated a strong impulse leg on the intraday charts and established a trigger for a ‘mechanical’ buy at the green line (x=90.61). Friday’s low at 90.62 missed by a penny, but the signal will remain viable. The implied 89.37 stop-loss is too wide to be practical, so I suggest using a ‘camo’ trigger to get long. That means dropping to the 15-minute chart or less when 90.61 is touched and fashioning a reverse-pattern set-up with a corresponding entry trigger.
TLT – Lehman Bond ETF (Last:90.69)
