#ZN1! #10YearTNote #Weekly #CBOT
- I took a deep look into the 10-year Treasury Note, futures commodity. The chart above is weekly.
- In Elliott Wave Theory perspective, an assumption has been made that the bullish wave starting from the swing low at 117’13’5 to the swing high at 140’20’0 as am impulsive 5-3-5-3-5 zig zag wave structure.
- With that said, I am weighing more on the possibility that the bullish wave from 130’25’0 to 135’15’0 is an 5-3-5 ABC corrective phase and this scenario becomes a bit more solid if bottom of the blue channel fails supporting.
- While expecting another corrective wave, a major confluent zone to keep an eye on is the red circle on the chart. This is where an inner downward trendline, a neckline (green trendline), and 0.382 retracement level overlaps.
- However, entering long here seems quite risky considering the RR ratio. Also, if the potential neckline (green trendline) breaks below, I am way more bearish expecting widening/broadening pattern.
- Those aggressive traders willing to take the risk here (buying at red circle), make sure to set a tight stoploss. I would rather be patient and wait until the price action gets confirmed and enter short if the trendline fails supporting.
- Here are some of the decent areas to enter long position if the H&S case is likely after observing failure of support at the neckline: 128’5~129’5 and 124’9~125’9.
- I took a deep look into the 10-year Treasury Note, futures commodity. The chart above is weekly.
- In Elliott Wave Theory perspective, an assumption has been made that the bullish wave starting from the swing low at 117’13’5 to the swing high at 140’20’0 as am impulsive 5-3-5-3-5 zig zag wave structure.
- With that said, I am weighing more on the possibility that the bullish wave from 130’25’0 to 135’15’0 is an 5-3-5 ABC corrective phase and this scenario becomes a bit more solid if bottom of the blue channel fails supporting.
- While expecting another corrective wave, a major confluent zone to keep an eye on is the red circle on the chart. This is where an inner downward trendline, a neckline (green trendline), and 0.382 retracement level overlaps.
- However, entering long here seems quite risky considering the RR ratio. Also, if the potential neckline (green trendline) breaks below, I am way more bearish expecting widening/broadening pattern.
- Those aggressive traders willing to take the risk here (buying at red circle), make sure to set a tight stoploss. I would rather be patient and wait until the price action gets confirmed and enter short if the trendline fails supporting.
- Here are some of the decent areas to enter long position if the H&S case is likely after observing failure of support at the neckline: 128’5~129’5 and 124’9~125’9.
Ghi chú
Sorry. Let me correct the units. Here are the supports:
128.5~129.5 = 128' 16' 00~129' 16' 00
124.9~125.9 = 124' 29' 00~125' 29' 00
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제 모든 인사이트, 분석, 관점은 t.me/tommy_trading 에 가장 먼저 올라갑니다!
제 모든 인사이트, 분석, 관점은 t.me/tommy_trading 에 가장 먼저 올라갑니다!
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.