Published 11/22/17 2:20 pm central:
Yesterday, 11/21/17, I highlighted a buying opportunity on the December 30 year bonds. The original write up of this trade can be found on the MDA blog and at the bottom of this post. Reference that entry to see the levels and reasons behind the entry.
Our long entry was based on the 4 hour POC level on the retracement. We had risk 2 ticks below the bottom box.
After we were filled on the trade moved nicely in our favor heading into the close and continued to move higher into the early stages of the overnight. Later in the overnight session, we saw a retracement in this trade but did not breach our stop.
Once the morning sessions kicked off we saw the bonds move back through our original entry prices and we have just made new session highs @ 154-20.
This bullish action we are seeing is starting to breach the daily top zone we have been anticipating the market to try and break and close above. This is the 3rd day we are looking to breach this top box.
With the markets trading on limited hours the next couple days it will be interesting to see if this bullish momentum continues. Swing traders hold strong with your trade with the original risk. If you are holding multiple positions consider taking a portion of those off at these levels.
HAPPY THANKSGIVING! OUR OFFICE WILL BE CLOSED TOMORROW 11/23/17
11/21/17 – Long Dec 30yr Bonds “ZBZ7” @ 153-30 (4 hour POC)
11/22/17 – Market @ 154-17 (+19 ticks or $593.75 per contract before fees)
Risk – Keep in place below 4-hour bottom until new boxes form. Multi-lot traders consider taking partial profits here.
December 30yr Bonds – Long Position Update 11/22/17
December 30yr Bonds – Long Position Entry 11/21/17
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Below the updates, you will see the original charts showing buy/sell zones
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