This week was not easy for those looking to short back down to broken resistance; 4.137%. We saw TVC:US10Y 4.196% buy stops liquidated before rejecting from a HTF 6-month bearish order block that has been respected in the past. Based on Thursday's sell stop raid, with the lows being 4.187%, we swiftly retraced before closing 50% of thew daily range @ 4.283. I am not ruling out the chance of a short term bearish run towards the upper and lower displacement new week opening gap as that could be a great area for the accumulation of longs to begin. A bearish run 4.187% would bring me back to the drawing boards as there would be a higher probability chance that my idea will get negated What do you think this means for CBOT:ZB1!
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure - Buyside/Sellside Liquidity - Order Blocks - Liquidity Voids - Fair Value Gaps - Optimal Trade Entry - Premium/Discount Array - SIBI/BISI - Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE - Shawn Lee POWELL - Toray KORTAN
Comment
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The latter played out in my case as we see a decline towards the upper displacement NWOG. The target was for TVC:US10Y to continue bullish to at least retest the macro Mar 23 - Oct 23 swing high/low's 50% equilibrium which we are yet to see. I still do think it is a possibility of bullish price action to 4.402% playing out but for the meantime, the more immediate retracement would be back down to the Oct 23 - Dec 23 discount range @ 4.137%