The 10-Year T-Note Must Retrace to the Bottom of its Navy Blue Rising Megaphone & Gray Neckline
The 10-year t-note has made a specialty for eight years now of avoiding a mandatory retrace to the bottom of its navy blue megaphone.
First, it extended the rising megaphone with the red rising megaphone across its bottom. Then it formed a series of megaphones inside megaphones (light blue, orange and pink) to keep moving sideways across the 126 to 130ish level.
Now it’s got an excellent set-up for a breakout downwards from the pink megaphone and potentially the orange megaphone to the target (purple scenario).
The alternate scenario (green) is another breakout through 130 to put a new high in the light blue megaphone before a drop to its bottom and the target.