5 Year T-Note Futures Heading Lower Towards 123
Updated
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in 5-Year T-Note Futures (ZF1!) .
Trend Analysis
The main view of this trade idea is on the 2-Hour chart. zf1! has been channeling lower after making a high of 124’08 on July 8th. First low was observed on July 13th around the 123’18”5 price level and a lower high is seen around 124 on July 15th. ZF1! Is expected to make a lower low at 123’14”5 in the short term.
Technical Indicators
ZF1! is currently below its short (25-SMA), medium (75-SMA) and fractal moving averages and its RSI is trading below 50. Moreover, the KST recently had a negative crossover.
Recommendation
The recommendation will be to go short at market. At the time of publishing ZF1!is trading around 123’25”2. The medium-term target price is observed around the 123’14”5 price level. A stop loss is set at 124. This produces a risk reward ratio of 1.54.
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in 5-Year T-Note Futures (ZF1!) .
Trend Analysis
The main view of this trade idea is on the 2-Hour chart. zf1! has been channeling lower after making a high of 124’08 on July 8th. First low was observed on July 13th around the 123’18”5 price level and a lower high is seen around 124 on July 15th. ZF1! Is expected to make a lower low at 123’14”5 in the short term.
Technical Indicators
ZF1! is currently below its short (25-SMA), medium (75-SMA) and fractal moving averages and its RSI is trading below 50. Moreover, the KST recently had a negative crossover.
Recommendation
The recommendation will be to go short at market. At the time of publishing ZF1!is trading around 123’25”2. The medium-term target price is observed around the 123’14”5 price level. A stop loss is set at 124. This produces a risk reward ratio of 1.54.
Trade closed: stop reached
Close: stop reached.
Disclaimer
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