On the above monthly chart price action has seen a nice 25% rise since November 2023. A number or reasons now exist to be bearish.
Incidentally, with all the recently published ideas on Tradingview, Without Worries appears to be the only one who is bearish.
The reasons?
1) Broken market structure confirmation.
2) Active price action resistance.
3) Rising wedge. A breakdown confirmation will see price action correct 17%.
4) $76 is the next support level, which is incidentally the measured move forecast by the bearish wedge identified in (3).
Is it possible price action continues to rise as most of Tradingview is calling for? Sure
Is it probable? No.
Ww
Incidentally, with all the recently published ideas on Tradingview, Without Worries appears to be the only one who is bearish.
The reasons?
1) Broken market structure confirmation.
2) Active price action resistance.
3) Rising wedge. A breakdown confirmation will see price action correct 17%.
4) $76 is the next support level, which is incidentally the measured move forecast by the bearish wedge identified in (3).
Is it possible price action continues to rise as most of Tradingview is calling for? Sure
Is it probable? No.
Ww
Trade active
20 year note collapse confirmed.This week price action exits the support channel.
Note
Was asked about the length of time this correction will occur.I don't know, no one really does.
However studies on the dollar suggest the 20 year Bond will continue correcting through until mid 2026.
Note
-7% so far, -8% to go.Bond holders can't exit quickly enough.
Note
Bond holders and I imagine a fair few banks running a cold sweat right about now.8-10% down so far, plenty more to go.
Don't expect the target area to be support for longs, that thinking is for retail traders.
Note
active resistance confirms for the 4th time... which in turn confirms a bear flag.20 year treasury note heading for 56 area.
Trade closed manually
Will update with new idea.The above idea remains valid expect a deeper correction is now forecast.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.