Simply Trading What I See; Chess Moves

I am long TMV here, at $26.44, with a protective stop-loss below $25. TMV is the triple-bearish ETF for Treasuries, which means I am betting against U.S. bonds. This is not a macro trade, nor a trade for or against Central Bankers around the world. Instead, I am simply trading what I see on that TLT chart I presented to you earlier today. On the hourly TLT chart, updated below, the light blue lines illustrate the busted rising wedge. My bet is that the rising wedge breakdown follows-through lower. On longer-term timeframes, TLT is quite extended. The risk to my trade is that Treasuries continue to blow-off higher, which is why my stop-loss is nothing with which to fool around.