Wrapping up the trading week. Let's take a quick look at 10Y Treasury.
Weekly chart is nothing but consolidation with macd crossed down and chikou below price.
Daily is below kijun and chikou below price. If we close below kijun today,I will look to add to my short.
I shorted on spike higher as my bias was bearish on this and was not buying into this rally. I expect it to test the bottom of range within next weeks till fed meeting. What happens at bottom of range will depend on forward guidance by fed as rate hike is already being priced in. Gold took a big dump today as well. I'll look for set up next week.
Have a good long weekend.
Thanks
Weekly chart is nothing but consolidation with macd crossed down and chikou below price.
Daily is below kijun and chikou below price. If we close below kijun today,I will look to add to my short.
I shorted on spike higher as my bias was bearish on this and was not buying into this rally. I expect it to test the bottom of range within next weeks till fed meeting. What happens at bottom of range will depend on forward guidance by fed as rate hike is already being priced in. Gold took a big dump today as well. I'll look for set up next week.
Have a good long weekend.
Thanks