Short
US 30yr T-Bonds Topping Pattern
This is my favorite and the cleanest opportunity I have been able to find across all sectors/markets. I've been watching this develop for quite some time now and the evidence for a large sell-off into the future is piling up. The head and shoulder pattern on the quarterly/monthly is one of the best things in that pile.
We saw a false break to the upside during 2016 but then sold off hard to close below, forming a very large yearly high-test candle. We stalled at support during Q1 and have since rallied into Q2, establishing the neckline.
I'm now waiting for a retest of the fib retrace levels where a right shoulder would ideally form. If that does occur I think we'll see a continuation of this new long-term bearish trend that should head down to the Q4 '13 key low. If the stars align price will then bounce from there to establish a neckline within a much larger head and shoulder pattern with price pulling back to our current neckline and the fib retrace levels which would be sitting right on top of that area. We would then head down to retest the Q1 2000 low.
This entire theory could take between 5-10 years to play out but man is it the perfect candidate for the "big cahuna" title...
Checkout my website @ patstrades.com for more in-depth analysis on this trade and many others. The link can be found on my profile page in the status bar right below my picture.
Thanks for reading!
We saw a false break to the upside during 2016 but then sold off hard to close below, forming a very large yearly high-test candle. We stalled at support during Q1 and have since rallied into Q2, establishing the neckline.
I'm now waiting for a retest of the fib retrace levels where a right shoulder would ideally form. If that does occur I think we'll see a continuation of this new long-term bearish trend that should head down to the Q4 '13 key low. If the stars align price will then bounce from there to establish a neckline within a much larger head and shoulder pattern with price pulling back to our current neckline and the fib retrace levels which would be sitting right on top of that area. We would then head down to retest the Q1 2000 low.
This entire theory could take between 5-10 years to play out but man is it the perfect candidate for the "big cahuna" title...
Checkout my website @ patstrades.com for more in-depth analysis on this trade and many others. The link can be found on my profile page in the status bar right below my picture.
Thanks for reading!
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