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Oct 29, 2023 11:47 AM

UK Bond Next Steps 

UK 10Y GiltOANDA

Description

The rectangles are potential zones of support/resistance. They also indicate potential tendencies of the sentiment of the market through the pairs of similar color and their relative position (going up or going down). Icons are relative price predictions in time, similar to targets that can be hit. Around the marked time stamps potential pivot points or exceptional events can occur.

This is a project similar to previous ones (Matrix Style) and is also looking at candlestick patterns near the shapes, rebounds or bounces with candlestick shadows, or small coincidences in the price action relative to the elements in the snapshot. This is for the swing trading enthusiasts that seek to maximize gain and minimize risk. For better understanding the general context and approach, the linked idea with previous results can be analyzed.

Always trade with a plan, manage risk, asses all probabilities, and may the force of profits be with you!

Comment

Not sure if the next steps are going down as the project might suggest, but so far we had two interesting steps in the journey of the price action meeting the elements in the snapshot. A rebound and then a break of the marked price level, then a break and a retest and continuation of the lower edge of the first rectangle.

Comment

Small pivot point at the upper edge of the first rectangle.

Comment

Ping pong inside the rectangle.

Comment

The second rectangle was never hit as the market diverged from the main scenario. Not sure if it will meet our shapes again in this project. Until then, potential pivot point near the marked time stamp?

Comment

Potential pivot point for a correction.
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