Price on 4hr chart is contained within the arc.
Backtest of downward trendline is complete.
Inverse head and shoulders + double bottom.
Next resistance level after breakout from this swing high is much higher.
Today we will talk about 10Y US Notes (treasury bonds) and its correlation with gold.
Well, as you may already know, treasury bonds and gold are in tight positive correlation and gold is currently down mainly because of 10Y US Notes.
However, a decline looks corrective as we see 10Y US Notes trading in an A-B-C decline, while gold is in a more...
T-note finished (or is about to finish) a run up to 139. This last leg up is a Wave B, once this leg is finished we can expect a big decline to 134 (previous wave A) or even 130 (previous wave 4).
The reasoning behind the expectation that the current uptrend is about this finish is based on RSI (does not get above 65), multitimeframe analysis (see weekly chart)...
Looks like wave ((iv)) found support at the expected zone marked by the 100, 200 EMAs and the 38.2 Fib level.
So the chance for a continuation higher are increasing.
Buy now with a stop at 137.1 is not a bad idea as R/R is pretty good.
^Previous post :
Daily Chart Explanation:
- Price was on an Ascending Channel and broke it.
- Now, it is developing a Bearish Corrective Structure.
- If price breaks it, it has potential to move down towards the Middle Support Zone first and, then, continue towards the Primary Support Zone .
A treasury bond is a certificate representing a loan to the federal government that matures in more than 10 years.
Since they are backed by the U.S. government, they are seen as a safe investment, particularly relative to stocks and other securities.
Treasury bond prices and yields move in opposite directions—falling prices boost yields and rising prices lower...
4H CHART EXPLANATION:
On this timeframe, we can see how price tried to break the Top of the Ascending Channel multiple times but failed. Now, there is MACD Bearish Divergence which indicates that the trend is getting weaker. There is a middle trendline inside the channel, so, the movement may try to reach that zone, and if it is broke, then the bottom of the...
Today we will talk about treasuries (10year US Notes) and stocks (S&P500).
Well, as you may already know, treasuries and stocks are more or less in negative correlation and what we have noticed that 10y US Notes can be forming a big bullish triangle, while S&P500 can be finally finishing a five-wave rally from lows.
In EW theory, triangles are...