Short

NAS100...Break Time for the Bulls

Updated

just another brief post to help some of you who may be struggling with proper analysis...

Remember even bullish markets need retracements...

The bullish trend is HL/HH’s...

If the market is at a HH with proper certification of completion…then it will retrace to form another HL.
Do not get fooled into thinking the market is permanently reversing…it is just the required correction to setup the HL for another buy.

The market does the same thing every single day…you just have to understand what timeframes are active.
Remember
Every Zig needs a Zag
Every Zag needs a Zig
Keep practicing until you can clearly identify the turnaround signals for retracements and trend moves.
Buyers do not get too cocky unless you caught the move from the very beginning and can safely handle the retracement to the next HL.

You have been warned....

Trade active

Now that the session is over and all the Zig points have been completed...

It is now time for the ZAG moves.

I will turn my attention to the downtrend.

Trade active

Just a visual of the Zig Zag method applied to the biggest active timeframe currently (Daily)

If you are currently in a sell just be patient...the price is coming back...(hopefully you didn't get in too early)

Every Zig needs a Zag
Every Zag needs a Zig

#auberstrategy
#aubersystem
#whywewait
#zigzagtheory

Note

It is not the quantity of trades that you enter that makes you successful and profitable...It is the quality.

If you are selling be patient and wait...as long as you do not overleverage and you entered on the biggest high, you will be rewarded.

#auberstrategy
#aubersystem
#whywewait
#patience
#zigzagtheory

Trade active

Just to provide a little clarity on what is going on with the daily timeframe.

The last high that was registered was three days ago on May 7th where it registered a LH.

Prior to that, the last LOW was a direct move LOW that was oversold on April 19th.

The reason you look at the larger timeframe is that the HL of smaller timeframes such as the H2 and as such is just a consolidation point within the larger structure of the Daily High/Low points.

What you now see happening is a slow consolidation at the Daily LH point, before proceeding down to complete the type of Low required.

If you look at the last two days, you will see the daily candle finishing lower than the high point and also starting lower, indicating that the lows are forming lower and it is just a matter of time for the structure to break to the low side.

Trade active

While last week did not provide any gains for me, It also did not create any losses as I am still in my sell positions and holding firm until the retracement is completed.

The market spent the majority of the week consolidating in the upper range and as I have always mentioned; there can be no sustained bullish movements from the high position.

When doing a comparison between last week and the previous week, you will see the following:

1. Week of 4/28 - 5/23 a total trend move of 6,500 pips from the lowest point to
the highest.

2. Last week 5/6 - 5/10 a total trend move of only 3,600 pips

What this shows is that the momentum has slowed as the market is still operating in the range of the Daily LH.

One thing that I have observed over time is that trading retracements require a lot of patience, knowledge and skill and last week was a patience-testing week.

The price finished it's activity below the Daily 78% retracement line which is significant for what is expected in the upcoming week and beyond for a number of reasons:

1. Both your monthly and weekly are coming from HH's (ATH's)

2. In order to continue with the trend (HL's/HH's) the market will need to make a
corrective move to create a HL (Zag) point on your larger timeframes.

3. Creating this HL will require your timeframes lower than the daily to produce
LH's/LL's (A retracement).

Remember retracements are not trend moves and as such they require a lot of patience and are sometimes slower to be completed and so they are not for the faint of heart.

Last week I took two sell trades on two separate accounts (both sells) while I wait for the retracement to be completed.

Your daily time frame will need to complete with a LL, however as always patience is key.

The dollar index (DXY) was also very uncooperative last week as it too tried to start its retracement to create it's HL's before completing it's retracement with HH's on the smaller timeframes.

With a number of news events, Inflation and CPI data along with a Fed Speech from Powell, we should see the DXY rising in the short term and thus creating the well-needed HL points the NAS100 needs before continuing on it's upward trend.

This is not a sprint...it's a marathon and as long as you do not overleverage, your patience will be rewarded.

#auberstrategy
#aubersystem
#whywewait
#zigzagtheory

Disclaimer:
my strategy works for me and it is advised that you follow my recommendations without doing your won research and analysis.

My entries:

1. 17980.60 (Entered on 05/07)
2. 18140.60 (Entered on 05/09)

Trade active

Retracement trades require the most patience before they get going.

It is important that you do not panic...

The H1 EMA/MA just crossed for the sell.

I am expecting the volume to pick up as we continue towards London session and the USA session for Tuesday 5/14/2024.

#patience

Auberstrategy

Be the exception...not the rule.
t.me/+FsHQuOngCYFiZmYx

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.