Continuing with Zig Zag theory this week...see related video in profile...
Last week ended on a Zag point...now it's time for the trend buy to make a Zig point.
Buy low and sell high...
My bias is bullish once all the lows have been finalized...
Key things to note:
1. Monday is a Federal Holiday in the United States (President's Day) and so the NAS100 market may have shortened trading hours and may close at 1:00pm EST and reopen at 6:00pm EST on Monday
2. Price closed with a HL on the H4 on Friday...
Please use the information to provided to develop your own strategy...
Have a great week!
Trade active
As usual patience is always the goal...
The Zag point was completed yesterday at 2:00 pm...setting up the perfect buy to the new zig point.
Where there is a Zig...there is a Zag Where there is a Zag...there is a Zig
Yesterday's run was a good 6500+ pips...which started the previous day.
You will notice that the market is currently retracing, this is due to the fact also that the daily candle stopped short yesterday of making another HH.
Please bear in mind that although the market is making HL/HH's the monthly candle is still sitting at a HH and what you will see are big consolidation moves between the last active zone.
If you made 6000 pips in two days, by all means secure your profits, there will always be more opportunities and you will be able to use a bigger lot size.
Right now, I am looking to see the type of lows that will be created and if you are selling do so bearing in mind that you are still in a bullish market until the biggest timeframe signals otherwise.
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