I want to start this year with a market I have been watching closely recently, and for good reason. The HYG, which is the most liquid high yield corporate bond exchange traded fund, has taken a beating over the past few months and looks ready to make another move lower. Not only is this trade attractive from a technical perspective, but the fundamentals are on our side as well given rates are poised to move higher this year.
We can see on the hourly chart below that a breakout over 81 failed to materialize and we are now coming off of near term resistance on a pivot bar. Additionally the momentum indicators are showing more room for downward movement, while volume profile needs to be filled in to the downside.
Based on the technicals, I would like to get short at current levels with a stop up at the bottom of the supply area at 80.68 and a target of 79.00 (3:1 r/r). I will give this trade no more than a week.
AKWAnalytics
We can see on the hourly chart below that a breakout over 81 failed to materialize and we are now coming off of near term resistance on a pivot bar. Additionally the momentum indicators are showing more room for downward movement, while volume profile needs to be filled in to the downside.
Based on the technicals, I would like to get short at current levels with a stop up at the bottom of the supply area at 80.68 and a target of 79.00 (3:1 r/r). I will give this trade no more than a week.
AKWAnalytics
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。