I shorted the Long Gilt yesterday after the benchmark cash bond had broken out above 4% yield and returned to test the breakout level. Entry was on an opening range breakout, a new idea. At the end of the day the market came back and I was stopped out in the last 10 minutes. The price is down again today. A trader I met last week recommended an opening range breakout strategy for day trading, but I have yet to work out how to incorporate this into my trading style. In this case the stop was too tight.

Charts show entry and stop position. Charts from IG IndexTimingcharts.com and Bloomberg.

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