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.
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