NAS100 continued last week with the historic theme of being bullish.
The week started off with Monday seeing three new breaks for new ATHs before seeing a retracement to end the week.
Be sure to check my tradingview profile for a video explanation of this post.
Now many people will get excited into believing that this is the beginning of the end, however this is the time when you take a step back and zoom out to look at the real story.
Remember analysis is always done on your largest timeframes back down to your lowest timeframes.
1. H1 to H5 have created new lows (The M30 & below are making LHs to LLs)
2. The H6 to H23 have created only HLs (coming from ATH's)
If you focus on your lower timeframes...in this case M5 and below, the situation looks bleak and looks like sellers are somehow in control. However once you take a step back and zoom out to look at the larger picture, you will see that the market only took a breather to create the needed HLs to continue on with the trend move, to break another ATH.
Like I have always said, patience is key and you just have to wait for the market to resume the trend.
When you have entries dating back to August 2024 you will notice that even with a retracement of 10,000 pips you are far from where your entry would have been and the low created last week only registered as a HL on the larger timeframes.
What am I expecting this week?
1. The weekly candle expired last week without creating any form of Low (order block)
2. The Daily candle expired last week without creating any form of Low (order block)
3. Largest HL was the H23 and that will work its way up to create another HH thus completing
another trend move.
So I will continue to add more buys and hold until the market breaks back for another ATH.
Patience is key and it is important not to get flustered by the lower timeframes but take your guidance only from your largest timeframes.
All the best for this week and remember to always practice.
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