Double Bottom Bullish Cypher Pattern Combo! The DOW/DIA Dynamics

Updated
Hey Traders, I recently took a Bullish Cypher Pattern setup on DIA. Unfortunately I was not able to post the trade before the move started however we may have another opportunity for entry on the Bullish Cypher Pattern.
my original entry was 204.45 with Target 1 at 206.00 and Target 2 at 207.00
Target 1 was successful and Target 2 has not yet been reached. As you can see from the chart below, we have a double bottom pattern occurring on the 1hr chart along with the Bullish Cypher Pattern. I am cautious with the markets right now due to all of these geopolitical events and everything else that is going on right now but with that said, we need to continue trading our plan and not be fearful.

I have personally opened up another small Long position on DIA. I think the Market wants to bounce here again.

Keep an eye on Bond Yields!
right now we are seeing pressure on the US10Y (US 10 year Bond Yield), this tends to put pressure on the Stock Market due to money moving out of stocks and into bonds..

When a Bond Yield decreases, The price of the Bond goes up.

In other words, Investors are taking there money out of stocks to buy bonds that are gaining value. We need to see the US10Y rise in order for the Market to move higher. Right Now the US10Y is around 2.18, I would like to see it head to 2.23-2.25. If this happens, I will begin to reopen additional long positions.

If you are an active trader, it is extremely important to watch the Bond Market (most importantly the 10 year yield). It is crucial to understand the movement of money when it comes to any markets as this can help you gauge the next movement and protect your trades. If the US10Y continues to fall, I will begin to lighten up on the longs. Be Cautious in the Markets right now and be sure to hedge your positions! Good luck traders and I hope this was helpful.
Trade closed: target reached
Targets were succesful and position has been closed. I was originally looking for Target 1 around 206.00 and Target 2 around 206.85 however we had a bearish Cypher Pattern completion on DIA (idea published earlier today) so i decided to take profits and flip trade to a short. Be sure to check out the idea regarding the Bearish Cypher Pattern on DIA if you are interested in following that trade. The title for that idea is "Bearish Cypher Pattern about to complete on the DOW/DIA"

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