Yesterday's buy from a H1 LL to a H1 high is currently sitting at a 78% retracement.
If that gave me all the confirmations I was looking for, I would be in for another buy, however, both the H1 & H2 timeframes made highs yesterday and as such, the 78% only yielded a HL for the H1 and as of this writing has not signaled a low on the H2.
The other factor that is causing me to wait is the fact that all the larger timeframes below the H-12 are coming from their respective highs and as such, I am expecting them to continue working down to some sort of low (that may be a few days out).
With that being said, I am still awaiting the HH's or LL's before my next move.
#auberstrategy #whyiwait #nas100
Trade active
While I was not keen on taking that move today...my analysis played out as I see price still pushing towards the downside to create Lows on the H1 - H5 timeframes.
With that being said, my next move will be when the H1 makes a LL...
The market is still retracing on the larger timeframes as anything above the H5 up to the 23Hr is currently sitting at a HL.
That being said my next trade still will be made when the market makes a LL or HH on my H1
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.