Last week I introduced you to two very important trend lines...
1. Blue was the H1 Trendline from 2 weeks ago
2. Red was a trendline drawn on the daily from the last ATH back in Dec to the LH formed last week.
I have always mentioned that any sell is only a temporary retracement to form a HL on a larger timeframe.
The fact that the H1 trendline was broken does not mean the overall market is bearish...
It just simply means that the market is in a retracement and the lower timeframes have to break structure in order to fulfill the HL's on the larger timeframes.
Pay attention to the price in relation to the trend lines:
1. price found support below the H1 (blue trendline) on Monday which was higher than last week's Low created 1/13/2025
2. Since makeing the Low on monday...the price has created a HL every single day since on the H1
3. When the price breaks the daily trendline...it will do so at a slightly lower point, however since the daily has not broken structure by creating a new low...that trendline is irrelevant.
4. When the price breaks the H1 trendline, it will do so at a much higher price than when it broke below to form the new low...
This is extremely bad news if you are a eternally bearish trader...
The market is making HLs to HH's and as I have always said...
Every single high that has been formed on the NAS100 has been broken
The only exception is the last ATH created in December and that will get broken by another HH...Guaranteed
One just has to be patient and trade the HL's to the highs until consolidation breaks and releases the next ATH....
This is my post for the week...hopefully it helps someone improve...that is of course if you are willing to learn.
NDX to the best of my knowledge and experience of this asset, dump's don't stall, pumps do. Yes its going to hunt your SLs, test our faith and patience, but brethren, stay jiggy aka stay strong. Hallelujah
US100 Another news event testing the bottom support. The candles have been creeping up further and further making every 50 pips into supports. The structure is broken only if previous high can’t be topped. Otherwise it’s just a matter of time until it gains control of 20500 area.
Yesterday day news, fed decision and earnings couldn’t break 21250 and today couldn’t break 21375, it’s creeping higher. All these shorts will just fuel the uptrend.