10 Year Note (ZN_F) Forecasting The Path & Selling The Rallies

Hello fellow traders. Another instrument that we have been trading lately is ZN_F. In this technical blog we’re going to take a quick look at the Elliott Wave charts of 10 Year Note and explain the trading strategy.  As our members know, ZN_F has been giving us good trading opportunities recently.  We recommended members to avoid buying it, while favoring the short side. In the further text we are going to explain the Elliott Wave Forecast and the trading strategy.

ZN_F H4 Elliott Wave Analysis 06.30.2022

ZN_F is doing recovery against the 135’17 peak which is unfolding as Elliott Wave Double Three Pattern. Recovery looks incomplete at the moment. It’s showing higher high structure- 5 swings from the low.  Current view suggests we should ideally see short term pull back and another leg up toward blue box to complete clear 7 swings from the low.  Strategy is waiting for the price to reach marked blue box zone: 120’125-122’28 in clear 7 swings before entering short positions.   Invalidation for the trade would be break above 1.618 fibs extension: 122’28. As the main trend is bearish we expect sellers to appear at the blue box for 3 waves pull back at least. Once pull back reaches 50 Fibs against the (x) blue low, we will make short position risk free ( put SL at BE) and take partial profits.

Reminder: You can learn about Elliott Wave Double Three Pattern at our Free Elliott Wave Educational Web Page.

ZN_F H4 Elliott Wave Analysis 07.07.2022

Eventually , 10 year note made proposed extension higher toward 120’125+ area, and made reaction from there.  ZN_F  found sellers right at the blue box area: 120’125-122’28 and made decent reaction that has reached 50 fibs against the (X) blue low. As a result, members who took short trades mad positions risk free . ( Put SL at BE) and took partial profits. At this stage we see wave ((4)) completed at 120’15 high. We would like to see break of previous low : 06/14 to confirm wave ((5)) is in progress.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.

ZN_F

Elliott Wave Forecast

Source: https://elliottwave-forecast.com/trading/10-year-note-zn_f-forecasting-path/