The post ZN Elliott Wave Analysis – trading US 10-Yr from extreme appeared on BitcoinEthereumNews.com.

Hello traders. In this blog post, we will examine the US 10-Yr US Treasury Note – ZN Elliott Wave Analysis. We will identify how it bounced from an extreme area, presenting a bullish opportunity for traders. Additionally, for educational purposes, we will explore the near future path.The 10-Year Treasury Note futures, often referred to as “10-Year T-Note futures,” with ticker ZN_F, are financial contracts that derive their value from the anticipated price of U.S. 10-Year Treasury Notes. These futures are among the most actively traded fixed-income products and play a crucial role in the global financial market. In the medium term, we anticipate that $ZN_F could develop into a double zigzag structure from the low of October 2023 in the cycle degree. From that low, wave W of the double zigzag began and ended in the high of December 2023, where wave X started. Wave X concluded on April 25, 2024, followed by the start of wave Y. By projection, wave Y should potentially break above the December 2023 high where wave W ended. With this in mind, we started updating 1-hour charts for elliottwave-forecast.com members from the low of April 25, 2024. In the near term, a bullish sequence emerged from the April 2024 low. We identified this sequence as an impulse wave completing wave (1) of ((A)) of Y. ZN Elliott Wave Analysis – 13th May 2024 Update The chart above shows the analysis we shared with members on May 13, 2024. On the chart, we identified the end of wave 3 at the peak of May 3. Meanwhile, our attention was on the wave 4 correction, expected to find support near the 108’182 to 108’040 extreme. We anticipated wave 4 to find support at this extreme, followed by a wave 5 rally. Therefore, we alerted members to…

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Filed under: News - @ May 24, 2024 3:28 am