US10Y - Continued LongsMy projection for this week was a bit late but nonetheless, bullish projections of lowest displacement fair value gap was the target and yields achieved it, topping out just before CE was met @ 4.696%. Shortly after, yields witnessed a sharp paintbrush retracement mid week and never closed out higher than the highs printed on Wednesday 17th April 2024.
On Friday, the last trading day for the week yields experienced a sellstop raid, taking out this weekβs whole sellside range whilst closing bearish but up 90% from the manipulated downside sweep indicating that buystops is next on the horizon. The daily order block was also respected @ 4.593% with Fridays candle body closing above that price point as well as above the weekly Sep - Oct 23 liquidity void.
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTANOn that note, I am expecting further bullish price action, attacking the consequent encroachment @ 4.735% with a possibility that the buy programme will elevate price action up to 4.80%, upper displacement weekly fair value gap.
On that note, I can expect a selloff in bonds as yields and bonds tend to have strong reverse correlation.