TLT Short-Term Short Setup

3월 2일

Overview:

TLT has likely completed Wave (3) in its Elliott Wave structure and is now entering a corrective Wave (4). The RSI is in overbought territory, suggesting a short-term pullback. Additionally, there are unfilled gaps near $85, which could act as downside targets in the upcoming corrective phase.

Technical Signals:

Elliott Wave Count: Wave (3) appears completed, setting up for a corrective (4) move.
RSI Overbought: The RSI is signaling a possible reversal.
Gap Fill Target: Unfilled gaps exist near $85, aligning with key Fibonacci retracement levels.
Resistance Zone: Price is approaching resistance between $95 - $96, making it a crucial level for rejection.
Support Levels: First support at $90.33 (Fib 0.382), followed by $87.21, and a final gap-fill zone near $85.


Wave (4) Correction:
A retracement toward the $90-$87 range is expected before the uptrend resumes.
This would shake out weak longs while setting up for Wave (5).
A Fib 0.382 retracement (around $90.50) could be a key level for Wave (4) to complete.

Wave (5) Potential Move:
If Wave (4) finds support, TLT could enter Wave (5) to new highs, potentially targeting $98 - $100+ before forming a larger top.
However, if the corrective structure extends beyond $85, it may indicate that a deeper ABC correction is in play.

3월 2일

액티브 트레이드

Let me know your thoughts!

3월 6일

노트

playing out according to the chart. Let's see where it goes. Remember this might be a short term short set up.