I first called this back in September that TLT would hit $113 (then $114) and now in May my target is hit.
This was another call where I received comments that the chart doesn't matter because XYZ but really the chart does matter as this was just a 1:1 zig zag correction.
So what next?
Well... I dont know currently because a fibonacci projection is just a landmark for a potential reversal. It doesn't itself prove a reversal though there will probably be a lot of short covering in this area.
Also just below @ 111.9 there is a low from 2018 and there will be short covering there also which could potentially be a bottoming area.
However, from a charting perspective this can still go lower. There has been nothing noteworthy for the bullish case as yet.
And I had a charting comment on a previous page that questioned how indicators could be so oversold but not produce a bounce. And well the reason for that is because this could be a new trend unfolding.
It is worth noting though that the RSI here is slightly lower than previous low and there could be a reversal.
But all this depends on what type of wave this is currently. The potential C wave has been much steeper than than the A and that could mean it will form a 1:1.618 which would see it hit $95.
Or if there is a shakeout reversal at the lows here than that may prove to be a good buy signal. I'll wait and see.
Not advice.
This was another call where I received comments that the chart doesn't matter because XYZ but really the chart does matter as this was just a 1:1 zig zag correction.
So what next?
Well... I dont know currently because a fibonacci projection is just a landmark for a potential reversal. It doesn't itself prove a reversal though there will probably be a lot of short covering in this area.
Also just below @ 111.9 there is a low from 2018 and there will be short covering there also which could potentially be a bottoming area.
However, from a charting perspective this can still go lower. There has been nothing noteworthy for the bullish case as yet.
And I had a charting comment on a previous page that questioned how indicators could be so oversold but not produce a bounce. And well the reason for that is because this could be a new trend unfolding.
It is worth noting though that the RSI here is slightly lower than previous low and there could be a reversal.
But all this depends on what type of wave this is currently. The potential C wave has been much steeper than than the A and that could mean it will form a 1:1.618 which would see it hit $95.
Or if there is a shakeout reversal at the lows here than that may prove to be a good buy signal. I'll wait and see.
Not advice.
註釋
If you enjoyed this analysis leave a like / comment. If you didn't enjoy this analysis you can still leave a comment if you like 😄.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。