US10Y - Lackluster Trading
Based on the weekly timeframe, candlestick closed out as a bearish shooting star, alongside a gap opening @ 4.235 - 4.217% which can be classed as a volume imbalance. The weekly timeframe has left a sour taste in buysides mouth as the upper wick has poached the mean threshold of the 1st -8th Jul monthly timeframe before closing lower.
The two days that we have seen massive impact is Thursday and Friday, with the weekly order block being tagged on the Thursday and the Thursdays daily low taken out on the friday via a candlebody closure below sellside. This indicates further weakness and a possible continuation to the downside, at least to 4.144% weekly sellstops.
With a slight adjustment of the weekly order block, (so, instead if the 4th March 24 OB, 29th Jan 24 OB) i can see that last weeks trading range was 1 tick off from the array @ 4.145%.
With unfinished business at this region, it's safe to say that if the market continues lower, 4.038% will be the end target for next week as a draw on liquidity
The two days that we have seen massive impact is Thursday and Friday, with the weekly order block being tagged on the Thursday and the Thursdays daily low taken out on the friday via a candlebody closure below sellside. This indicates further weakness and a possible continuation to the downside, at least to 4.144% weekly sellstops.
With a slight adjustment of the weekly order block, (so, instead if the 4th March 24 OB, 29th Jan 24 OB) i can see that last weeks trading range was 1 tick off from the array @ 4.145%.
With unfinished business at this region, it's safe to say that if the market continues lower, 4.038% will be the end target for next week as a draw on liquidity
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