NAS100 Weekly Setup (Sell Active)

I will be taking partial profits since the M15 is on it's way to making a segmented low, which will translate at some point to a HL on the H1.

Once I do that then I will wait for another M15 high (LH) to reenter the sell.

It' is still early, however the M15 low will be my first TP. NAS100USD

Trade active:

The M15 is currently making it's XABCD pattern and as such the next low will be the C point.

After the C point the next LH or High will be the D point and the price will break the previously made C point as it continues down to make the ultimate HL on the daily (LOW) on the H4.

So I can hold for ultimate TP or take my partial, increase my lot size and re-enter on the next M15 high or LH to continue my sell

Trade active:

Still monitoring this move and this morning...I have noticed that the XABCD pattern on the M15 has completed and given additional confirmation for the continued sell...

However the D point finished with another HH on the M15 (it is actually a LOWER HH) which is perfect because the M15 still has yet to register an official low and the H1 has yet to even put on a HL.

So I am back to my original position of holding until the Day puts on a HL.

The beautiful thing about trading is that the market conditions are always changing and so adjusting your analysis and bias is always necessary.

Right now, the sell is still active from what I am seeing.

Trade active:

Here is how the XABCD pattern played out overnight