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Hello everyone! In today’s article, we will follow up on the past performance of iShares 20+ Year Bond ETF (TLT) forecast. We will also review the latest 4H count. First, let’s take a look at how we analyzed it back in June 2024.
$TLT 4H Elliott Wave View – June 04, 2024:
In our last article, we explained that $TLT was showing a bullish sequence from Oct 2023 low due to the 5 waves impulse. We also suggested that a nest is taking place and expect price to rally towards 106 area eventually.
Third Wave Extension
Different Types of Wave Extensions
A nest is a series of 1-2. Most of the time a nest happens before a huge move takes place. The chart above shows what a nest looks like.
$TLT 4H Elliott Wave View – August 26, 2024:
The latest 4H update suggests that $TLT is still nesting and can be looking for a powerful move soon towards the $106 – 110 area. Traders should look to buy the dips in 3 or 7 swings. Moreover, a break above black ((1)) at $100.57 will confirm that the next leg higher has started.
Source: https://elliottwave-forecast.com/video-blog/ishares-20-year-bond-etf-tlt-can-nesting-bullish-structure/
On the date of publication, Elliott Wave Forecast did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.