This from a member...
"They were all expecting the breakout and were long, even citing the "break down" in TLT. Nobody is short at least on my feed."
Of course they were, a I said yesterday, the triangle is the most recognizable pattern for any beginner in TA, this is how Wall St. uses TA against traders.
They fell for the triangle, they fell for the breakout-they cited TLT which just had the strongest 1-day move in 5 weeks yesterday, but today's gap fill was bearish, the TLT longs that have been there for months all of the sudden changed their minds.
It's like fish in a barrel for Wall St.
Now ask yourself, was Wall Street trading with retail?
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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