ZN1! trade ideas
ZN1! uptrend soon?Since the spectacular crash beginning in mid-Feb on fears of rate hike, seems like 10yr Treasury futures have found a bottom at around 130'27, and could be ready for a move up.
Movement since Feb 2021
While the chart showed some cracks since around 11 Feb (following a false double bottom in the daily chart), the big drop took place on 26 Feb, by closing 47 points below previous close at 133'21.5.
Since then, each subsequent wave has been shallower, with bottom found at around 130'27. and it is now ~1.4 dollars higher at 132'09. I would say the aforementioned bottom has been confirmed as price had rebounded to above the 10sma and 20sma, albeit retraced slightly after approaching the 40sma.
What next?
Imo the 10yr UST futures may pull back further to around 131'21 (ie below the 10 and 20sma), before starting an uptrend move. I would say 134 before end of May seems plausible at this juncture.
Would consider my view a fail if price drops below 131'15 and no rebound thereafter.
Let's see.
BUY ZN!there are several indicators that show that the ZN is going up
it is at the top of the vwap as you can see and with good volume
ZN VERY HIGH RESISTANCE 13130; IF IT BREAKS THE RESISTANCE WITH FORCE AND WITH A LARGE VOLUME, WE WILL HAVE A VERY STRONG PURCHASE SIGNAL.
ZN 10yr. futures at strong supportZN 10 year futures are testing strong support on the Yearly S1 pivot points.
Elliott Wave: 10Y US Notes Is Finishing Five-Wave CycleHello traders!
10 Year US notes made a bigger decline recently, a clear impulse weakness down from start of the year which can be coming into late stages as we see price in wave five, but with room for 130'00. At the same time we see divergence on the Elliott wave oscillator, but with room for slightly more weakness to complete wave 5 cycle with a potential divergence.
10-YR. Using Fib's as sell zone.If you're late to the party, like I am, 10-year has been getting ridden way down in '21.
I see the 'M' reversal double bottom. There are some subtle signs of bullishness, including flattening 200 MA.
It's been a steep downhill run, and I would expect the momentum will continue with another spike low. but. every trend comes to an end.
I would much rather be the one pushing the boulder than catching it, so I'm looking to sell in the upper Fibonacci area. Seeing as sellers have been letting price get pretty high before displaying control recently, This keeps me less interested in the .5 level. Also, my risk manager can't tolerate using the .5. Too much volatility.
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Anybody else's crystal ball come out differently?
