10Y Treasury Note (TNX) showing a rising wedge
Disclaimer - I am a Newb Trader so no h8ers, plox Kthnxbai.
I used the ABCD tool to show a outline a rising wedge whose terminus coincides with the release of the FOMC minutes. This would suggest a short in the short term (until Dec 17) and long in the long (after Dec 17). Always good to take profits and wait for the minutes, though I suspect we'll be rudderless until then.
On the weekly I can see what looks like a Head and Shoulders forming. If the above reversal does occur the neckline is around 2.45%.
~m
I used the ABCD tool to show a outline a rising wedge whose terminus coincides with the release of the FOMC minutes. This would suggest a short in the short term (until Dec 17) and long in the long (after Dec 17). Always good to take profits and wait for the minutes, though I suspect we'll be rudderless until then.
On the weekly I can see what looks like a Head and Shoulders forming. If the above reversal does occur the neckline is around 2.45%.
~m
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