ZN1! trade ideas
Bonds Attempt to Establish Value Near LowsBonds have picked up from lows, retracing the vacuum zone back to resistance at 126'19, exactly as we had predicted yesterday. The Kovach OBV picked up very slightly, but nowhere near enough to suggest any serious buying momentum. We are seeing resistance from these levels, as anticipated, confirmed by a red triangle on the KRI. It seems likely that ZN may retrace the range again, and find support at 125'17, but if we continue to test higher levels, then 126'18 and 127'01 are the next targets.
Head and Shoulders Breakdown in BondsAfter breaking down from our head and shoulders pattern, bonds have found support at lower levels and have attempted a rebound. The level 127'08 provided good support confirmed by a green triangle on the KRI, and we saw a nice pivot there. We were able to break above 127'22, the next level above before retracing and stabilizing above 127'08 again. It appears that ZN is attempting to stabilize in this area, as we mentioned in the reports. The Kovach OBV has leveled off, so we anticipate the price action to be range bound between these levels.
A good time to buy 10 year t-noes in 30 min frameGOOD MORNING,
after the last short trading range, that seems like a semi diamond finally we are over the VWAP and we have a big strength of buyers right now although the candle is red they are here so the chance of an uptrend in the next 30 min nearly 75% due to big volume and the safety we have from the VWAP.
contact me if you want me for any analysis
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GOOD LUCK
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T-Notes Equality Objective Achieved, What Next?In this update we review the recent price action un the US T-Notes and identify the next high probability trading pattern and price objectives to target.
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ZN!-As we can see in the market we have an average trend that has many wicks as shown on the chart
- A huge volume compared to the other ones of the day in red that confirm the idea of the preparation of the bearish trend
My idea is that now if a candle breaks the vwap we need to sell ZN!
More updates about this market will be in the comments!
ZN! (BUY)the market here had an average trend, and at 9H15, we can see that a significant volume came up with a candle that breaks the two indicators, which are the HMA and Vwap
at 10H15, I believe that the market is having a pullback on the resistance line and preparing for a bullish trend
the confirmation will be when the market will break the line of the pitchfork indicator, and then I believe that we should BUY ZN!
Bonds Smash Lows After Inflation DataBonds took a sharp nose dive off increased Fed rate hike expectations and inflation. We smashed through our lowest levels of support and drove deeper into the 126 handle, before finally bottoming out at 125'17, a support level extrapolated from inverse Fibonacci levels, a tool we are relying on more and more, now that we have exhausted all of our lower technical levels. We are seeing a brief pivot off this level, and appear to be making a run for the 126's again. Currently we are meeting resistance at the psychological level of 126'00, with 126'02 providing resistance as confirmed by a red triangle on the KRI. The Kovach OBV has turned even more bearish with the massive selloff yesterday, but does appear to be leveling off with the support. If we are able to break into the 126's again, then 126'11 is sure to provide resistance. Our next target below is 125'07 if we selloff further.
Bond s may bounce, yields may come downThe 10yr bond market continued to fall today as yields broke the 2% level, highest levels since 2019. The market has been laser focused on the "2%" level in recent months. If you look at the 10yr bonds futures market, the ZN, the bonds have traded down to the 61.8% Fibonacci retracement of the 2018 lows to 2020 highs. This is a key level of support longer term. The triangle pattern max target has nearly been reached too. Since this level is so big (technically) we'd assume there would be a bounce/consolidation near these levels as the bond market also completed an ab=cd pattern. If you are short bonds, You should take note. This was discussed on yesterday's "Trade Off" show hosted by Pepperstone Securities.
Bonds Test Lower LevelsBonds appeared to be making an effort to attempt higher levels, with a bull wedge pattern forming with an upper bound at 128'10. However, we broke down from this pattern, smashing through the 128 handle into the 127's and then some. The next level of support at 127'22 did little to provide support, though we finally bottomed out for now just above 127'08. Currently, we are seeing a brief pivot with an attempt to break 127'22 from below which is meeting resistance confirmed by two red triangles on the KRI. If we are able to break this level, the next target is 128'01. The Kovach OBV has flattened out suggesting we won't expect much in the way of momentum for now. If we fall further, 127'08 should provide support, then 127'01.
!0yr T-Note Targeting 125'10In this update we review the recent price action in the 10 Year T-Note futures contract and identify the next high probability trading opportunity and price objectives to target.
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