NAS100 is trading based on it's characteristics...
HL's to HH's
Yesterday did not give the spirited push to the upside, however I have learnt that in these times, you trade the trend and wait for the market to resume the momentum.
I had to hold my position overnight however the market is still making the required HL's (Zag points) on all the active timeframes and so it is just a matter of time.
I will evaluate at the next H2 HH...(May take profit there) and then wait for another setup.
As always:
1. Keep your head down
2. Focus
3. Ignore the noise
4. Evaluate
5. Re-evaluate
6. Analyze
I do not react to the news and so I continue trading the trend... HL to HH...
The H2 is currently the timeframe at the HL and I expect the price to end with a HH.
Trade active
Took Profit at 19855.5 since the H2 made it's HH...
Will wait for another HL setup.
Trade active
So after yesterday's trade...I am currently waiting for another buy opportunity from a HL (Largest)
as you will see in the chart;
1. Prices was coming from a HL that started 10:00 am on Tuesday
2. The structure of the market is HL to HH's
3. The NFP revision report that was released at 10:00am Wednesday created a volatile
candle worth (approximately 1700 pips)
4. This candle completed the needed HH
5. The market went on to create another HL on the H1/H2 which was completed at
12:00 noon
6. The volatility continued but only within the High and Low the market created and
has been doing that since yesterday afternoon.
So I will say this again for the people in the back...Nas100 will do what it needs to do to maintain the established structure and any volatility that the news generates happens within the structure of the market.
As long as your largest timeframe is maintaining market structure, the buys are still valid...
Again this is a game of patience...
1. Keep your head down
2. Ignore the noise
3. Trade your plan
4. Trust your analysis
5. Evaluate and improve on your mistakes
Trade active
Confirmation that the market is still making HL to HH's
The largest HL to have been registered yesterday was the H2 and it just signaled another HH.
Since I exited yesterday, this gives me more reason to start tracking my HL's (Zag Point) for another entry... (NOT SELLING) Just waiting for the entry.
So now it is just a matter of waiting for the proper setup to continue the trend.
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.