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Whywewait

NAS100 Current Sell MoveOANDA:NAS100USD So this week my bias has been towards the sell setup as that has been the current trend since the highest point of the week on Monday @ 1:00pm. The rationale behind this bias is that since the market is making HL/HH and all timeframes behind the daily were at their HH's then it is only fair to conclude that in order for the day to compete it's HH it will need to sell in order to make it's HL. The week is already sitting at an overbought high so that confirmed my analysis. The week started off with some consolidation before the first major attempt on Wednesday @ 9:30am. We got a direct break to the low side for the H1 coming from a HH straight to an oversold low which setup a hard retracement all day yesterday (Bulls were happy). The session closed yesterday with: H4 = no registered high (Still needing a LOW form it's previous HH) H3 = registering only a LH (still needing a LOW from it's previous HH) H2 = registering only a LH (Making a direct move from HH to LOW and therefore needing a LL to complete the move) H1 = registering only a LH (making a direct move from HH to LOW and therefore needing a LL to complete the move) M15 = HH completing the retracement sequence and finishing with a (lower HH) What that now sets up is an opportunity to compete the sell move towards the daily HL. so far the market has broken with a direct move on the M15 from a HH to a LOW and so the move should be completed with a LL below the previous LL on Thursday @ 2:00am My entry is 14494.3 My ultimate TP is 13520.9 My 2nd choice TP is 13934.7 My realistic TP is 14211.3 Happy Trading God Bless
OANDA:NAS100USDShort
by Auberstrategy
Waiting For Another Sell Entry NAS100OANDA:NAS100USD After yesterday's first major move of the week of over 3,500 pips, the market completed it's retracement cycle overnight by creating the M15 LH/LL which yielded another 800 pips. Currently the next entry point will be a high on the M15 (LH on the H1) and the next exit will be the next LL on the hour timeframe. This week the market is stingy with the mega moves all at once, however it is giving tons of opportunities for entries and exits as it makes it way down towards the daily HL. so while another sell is in order today, one has to take into account the bullish retracements that will take place in order to properly setup the move. Happy Trading... God Bless
OANDA:NAS100USDShort
by Auberstrategy
4
Waiting For Another Sell Entry NAS100Today was the best day since the start of the week in terms of PIP haul. A total of 1200 pips went to my profit on the conservative side and the move continued in the sell for another 1800... Despite coming out early, I am more confident that the market will continue to trend down until the HL is made on the daily timeframe. As of now, I am just awaiting the retracement towards the upside to provide me with another entry for the sell, however instead of waiting for a M15 high, I am leaning towards the M15 LH only because the H3 to H4 are still sitting at HL's and have yet to put on their respective LOW's The H2, H1 and all other smaller timeframes all broke their respective structures to put on their respective lows. This now means that every timeframe smaller than the H1 will need at a LL for the move to be complete and beginning with the smallest timeframe yet to make a LL the M15 will need to retrace to a LH before completing it's LL. The overall move is still bearish and today's total 3000 PIP haul is only the beginning of what is shaping up to be an epic week. Happy Trading.... God Bless.
OANDA:NAS100USDShort
by Auberstrategy
Waiting For Another Sell Entry NAS100OANDA:NAS100USD Now that the M15 completed it's segmented Oversold LOW (H1 HL) it is now just waiting for another opportunity to take a sell towards the ultimate destination which is the daily HL. A quick glance at the daily and weekly timeframes will show you that the market is intent on getting a bearish momentum going but for the past two days has only managed to generate wicks for the bears and bulls. Another point to note is that with all timeframes sitting at HH's there is no reason for me to looking for buys and as such, my current bias is towards the sell opportunities. How far down the price will go remains to be seen, however I will continue to monitor once I take another sell. Final point on this is that the H1 seems to be finalizing the C point in the XABCD pattern, which will therefore require a D point before heading towards the low it needs to create. I will continue to monitor and work on my patience... Happy Trading and God Bless.
OANDA:NAS100USD
by Auberstrategy