Going on a Hike: US 30 year Bond futures

US bond Futures

Take a stroll with me as I attempt to lay out a what I believe to be the most likely price path of the 30 year Bond Future. I contend the line in the sand (zone) comes in at 144-143.20. Any choppy trade into this area should hold up in the near future. If we were to come off this zone and manage not to close below 144 (weekly) I would expect another leg higher. My upside objective comes in at around 146-147. This area is a major cross convergence zone which I believe will mark a subset (a-b-c ) iv wave high extreme of a larger 5 wave declining sequence. Projecting time and proportion into the equation I'd be looking for a violation of 144 and an extended follow through to 134-132.

My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation. Please feel free to contact me at Walsh Trading to discuss my insights into this or any market of your interest.