| December 30 Year Treasury Bonds
December treasury bonds broke down into a new low where the chart satisfied its third PriceCount objective to the 118^14 area. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. From here, IF you can susustain furuther weakness, we are left with a low percentage fourth count to aim for to the 114 area.
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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Daily Levels for Oct. 23rd 2024
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