Trade Idea: Long Bonds / TLT

I'll have charts out momentarily, but I believe we are on the verge of a significant counter trend bounce or what many of you know as a "Volatility Shakeout". For those of you familiar with the concept, this daily chart of TLT will show you exactly what I mean and when I post the charts next, you'll see additional information backing up the trade idea.

After bonds outperformed equities last year on a steady uptrend that had 3C confirmation all the way through, late last year I posted numerous notes that TLT/Bonds no longer had the long term 60 min 3C chart uptrend confirmation and they had gone negative. Since then, TLT has made lower highs and lower lows and recently broken a very obvious trend line. This is where technical shorts will enter on confirmation of the break of the trend line as it is obvious,  just like our H&S volatility shake-out of new shorts once the neckline breaks and that being the reason we NEVER short a H&S at the break of the neckline, but on the shakeout rally to force new shorts to cover just after.

I'm expecting the exact same here.

I'm going with a half size position in TLT (20+ year Treasury Bond Fund) June 19th (monthly) CALLS with a strike of $122. If TLT pulls back a little, I'll add the second half of the position.