10 Year Note Futures— The 10 year note In the June contract is currently trading higher by 13 ticks at 127 / 00 hitting a new high all due to the Federal Reserve stating that they probably will lower interest rates in 2019 which certainly is a bullish fundamental factor towards the 10 year note and the entire bond sector in general.
I have been recommending 2 bullish positions with an average price of 124 /25 and at this point in time you’re going to have to liquidate and roll over into the September contract due to expiration which currently is trading at 127 /09 as we will keep the stop-loss below the 10-day low standing at 124 /25 as an exit strategy.
The yield on the 10 year note currently stands at 2.08% and if you have been following any of my previous blogs you understand that I thought prices could get down to 2.00% as I do believe that still going to happen so stay long and continue to place the proper stop loss.
The chart structure will start to improve on a daily basis therefor the monetary risk will also be reduced significantly as I am looking at adding more contracts to the upside once the risk/reward become more in your favor as this by far is the strongest trend to the upside.
The 10 year is trading far above their 20 and 100 day moving average telling you that the trend is higher with the next major level of resistance all the way at the 128 level as there is so much uncertainty about the trade wars that money flows are coming into the 10-year note.
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