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Bond

iShares Barclays 20year Treasury Bonds (NYSE:TLT) : Breakdown from kumo

On the Ichimoku Daily Chart, TLT has broke down from the kumo 2 days back.

But, yesterday was a great move for the bears as TLT open higher but fail to punch through the kumo resistance.

After which it was sold down further at higher volume.

We can also see from the Chikou Span how TLT has failed to clear the price resistance from 26 periods back; a confirmation that a lower high is forming.

Together with the breakdown from the kumo, the bearish momentum for TLT should be gathering ( at least until the possible ‘QEII’ is over).



Note:

Reminder to self. Manage the position sizing.

Do not let greed affects the sizing and ultimately the emotion.

By iam802

Trend trading with Ichimoku