This chart is simply ultra bullish.
This idea attempts to highlight a bullish pattern, within an ultra bullish pattern.
The first pattern is an Inverted Head and Shoulders pattern which has formed over 16 years!
In Oct 23, US30Y breached the 16 year Year High and since then we have created a double bottom (the second pattern) on the 3M chart at near equal lows around 3.9%
US30Y looks like it wants to break out very soon.
The red areas highlights the 3months selling Fair Value Gaps, however the closest unfilled 3M fair value gaps starts around 6.5%
I anticipate that the price will be initially attracted to the 6.5% area, but inverted head and shoulders pattern could play out over several years to get to the overall target.
This idea attempts to highlight a bullish pattern, within an ultra bullish pattern.
The first pattern is an Inverted Head and Shoulders pattern which has formed over 16 years!
In Oct 23, US30Y breached the 16 year Year High and since then we have created a double bottom (the second pattern) on the 3M chart at near equal lows around 3.9%
US30Y looks like it wants to break out very soon.
The red areas highlights the 3months selling Fair Value Gaps, however the closest unfilled 3M fair value gaps starts around 6.5%
I anticipate that the price will be initially attracted to the 6.5% area, but inverted head and shoulders pattern could play out over several years to get to the overall target.
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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.
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.