In today's trading session, I still did not get the setup I have been looking for as NAS100 still continued to consolidate within the H4 Zone that started Friday 09/01/23 (9:00am LOW) and Thursday 09/07/2023 (9:30 am LOW).
Since the low, the price has not broken the high or the low, however it has been making a series of highs and lows on the H1.
While I was waiting to see a break for the HH or LL, it did not materialize even with the Inflation volatility created at 8:30 today and so I am left still awaiting the break of the zone.
One thing seems clearer and that is that the H4 & H5 are slowly working their way back towards making highs and at that point, the HH should come on for the H1 and would provide the perfect entry for a new trend.
In today's session, I noticed that a technical LH (segmented low) was created on the H1 which gave me some indication that the H1 is intent on making the HH in order to complete the H4 & H5 high, however I am not rushing it and just letting the trade come to me with a HH or a LL if the market so desires.
Liquidity was taken out at the 23% mark before rising back to 61%...the difference this time is that the H4 did not register a LH and so it's a prime target for pushing to the high after a slight pullback on the 50% line or below...(I am watching that closely)
The EMA/MA have both crossed for the buy on the H1 and they are almost touching on the H4 and so I am leaning towards the market continuing to break on the upside for the long awaited HH.
The market is now open and as we get deeper into Asian session and closer to London session, we should see a more defined pattern.
I am still waiting, no rush, the trade will come and I just have to be patient.
No setup = no trade.
#auberstrategy #whywewait #hhll #nas100
Trade active
Oh I have adjusted my fibs to the H4 timeframe as the series on consolidation HIGHS and LOWS on the H1 rendered the H1 fibs invalid.
#patience #auberstrategy #whywewait
Trade active
Since the market has reopened, the price has been on a steady increase towards the 61.8% line.
The H4 still has not registered any type of HIGH and so I am currently leaning towards the idea that a HH should be in the making in the near future.
My reasoning for this is also confirmed by the fact that since Friday 08/18...every single type of Low that the H4 has made has been higher than the last one.
I am still waiting on my setup and I am remaining neutral until the market gives me a signal for the next move.
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