I am a chart reader but I don't base trading decisions solely on chart patterns or TA. Die bonds Die! Two full points in the bonds in about 3 hours! Needless to say I'm pleasantly surprised.
In H&S formations the right shoulder should be on low volume and a decrease in open interest. Today was not a low volume right shoulder.
11705 to 11616 is where you go long USU for the next 2 months of correction/consolidation trade. The next leg up to 145-150 begins in the fall. Do not get caught in this trading range.
Yes, that was a great call ! Lets see if the bonds can break the 118 level in the next few days. I got stopped out of my long tnotes position. I am glad I took some profits earlier in the day. Good luck trading
Overnight Bonds Wednesday evening/Thursday morning Sept Bonds drifted just below the 118'00 level. Thursday's day session begins in a few minutes and we watch carefully what happens. Still short sept bonds contracts ... looking for a place to move profit-taking stop.
Well it appears Bonds broke the head n' shoulders neckline at 118 today, I am not a chartist but is the target price 113 sometime this summer? Do we need a close below 118 to confirm?
Looking for support to come into the market and the bond bulls to try to rally the market back to the 118'16 level. Sure do. I'd prefer a close below 117'16; weakness into the close.
So the Bond head and shoulders has broken the neckline. Was it on good volume and increased open interest? Does it have to be on good volume and increased open interest? After the neckline is broken what is TYPICAL of all head and shoulders formations. Where is your stop? Do you need a stop? How important is volume on the break of the neckline? What is the objective? Who knows the answers?