We stalked a possible trade in TLT toward the end of this session, looking for an impulse leg subtle enough to get us aboard a mature rally with as little risk as possible. The key to the trade was as fine a specimen of the look-to-the-left-peak as we have come across, created so long ago that few other traders or technicians would have been paying much attention to it. For a finely nuanced refresher on impulse legs and the lengths to which we will go to qualify them as such, skip to the final 20 minutes of the recording and enjoy the show
