In my previously published Idea I switched my bias to a Bearish bias and let me say outright that was a mistake on my part.
Upon revisiting my analysis, I have come to the conclusion that the monthly did not suffer a rejection, however it was a pullback for a greater comeback which was confirmed by yesterday's 8:30 inflation push.
One of my first rules of this strategy is that I only take sells when the market makes Highs or HH's and so that holds true for even the bigger timeframes like the monthly and weekly.
So if that rule holds true, any sells that I see in the market from a monthly or weekly LH should only be considered temporary until the market goes back in trend.
Both the Monthly and the weekly completed HL's and as such in order to be able to mount a convincing sell opportunity should have been allowed to go back to their HH or High positions before going for a sell.
With that being said...My bias has once again shifted to the bullish side as the momentum is on their side especially with the weekly and the monthly candles still having time left for completing, displaying a very strong momentum towards the upside.
The monthly candle still has 15 days to complete and that has to mean a positive sign for the bulls.
So how will I be trading this bias?
1. The strategy still remains the same...you buy from your lows to your highs and HH's
2. Identify the timeframe making the lows and enter on those timeframes for the highs
Remember do not rush the move
One of the key things about learning is that you must use every single opportunity to learn and grow...
This has been a learning experience for me and one that I have certainly grown from.
As I always stress, it is important to do your own research and analysis...what is post is just my opinion based on what I am seeing in the market and so if you are only relying on my views as your strategy...when I make a mistake (like I did this week) you also will be making a mistake and now your growth is based on my correct analysis....so please please please, use this only as a guide to help you to see the markets better and to help you to be more comfortable analyzing data.
#alwayslearning
#alwaysgrowing
#patience
#aubersystem
#auberstrategy
#whywewait
no setup = no trade
learn from your mistakes
mistakes provides opportunities for growth.
Upon revisiting my analysis, I have come to the conclusion that the monthly did not suffer a rejection, however it was a pullback for a greater comeback which was confirmed by yesterday's 8:30 inflation push.
One of my first rules of this strategy is that I only take sells when the market makes Highs or HH's and so that holds true for even the bigger timeframes like the monthly and weekly.
So if that rule holds true, any sells that I see in the market from a monthly or weekly LH should only be considered temporary until the market goes back in trend.
Both the Monthly and the weekly completed HL's and as such in order to be able to mount a convincing sell opportunity should have been allowed to go back to their HH or High positions before going for a sell.
With that being said...My bias has once again shifted to the bullish side as the momentum is on their side especially with the weekly and the monthly candles still having time left for completing, displaying a very strong momentum towards the upside.
The monthly candle still has 15 days to complete and that has to mean a positive sign for the bulls.
So how will I be trading this bias?
1. The strategy still remains the same...you buy from your lows to your highs and HH's
2. Identify the timeframe making the lows and enter on those timeframes for the highs
Remember do not rush the move
One of the key things about learning is that you must use every single opportunity to learn and grow...
This has been a learning experience for me and one that I have certainly grown from.
As I always stress, it is important to do your own research and analysis...what is post is just my opinion based on what I am seeing in the market and so if you are only relying on my views as your strategy...when I make a mistake (like I did this week) you also will be making a mistake and now your growth is based on my correct analysis....so please please please, use this only as a guide to help you to see the markets better and to help you to be more comfortable analyzing data.
#alwayslearning
#alwaysgrowing
#patience
#aubersystem
#auberstrategy
#whywewait
no setup = no trade
learn from your mistakes
mistakes provides opportunities for growth.
Trade active:
It may be a little hard to see on this visual, however the last time NAS100 made it's historic high, it broke 15710.80 (Previously Made on September 6, 2021) and continued on to 16771.6 in under 1 month.
Why is that important?
1. well price has already broken
that level and is currently
sitting at 15927.
2. It's now taking aim at the HH
created on July 19 armed
with a new HIGH.
3. That is the last resistance
area before the historic high
at 16771.6
If history repeats itself which it tends to do...we could see a massive buy to close out an already strong November monthly candle and today is only the 15th.
As usual be patient...take your lows and buy to your highs.
#patience
Why is that important?
1. well price has already broken
that level and is currently
sitting at 15927.
2. It's now taking aim at the HH
created on July 19 armed
with a new HIGH.
3. That is the last resistance
area before the historic high
at 16771.6
If history repeats itself which it tends to do...we could see a massive buy to close out an already strong November monthly candle and today is only the 15th.
As usual be patient...take your lows and buy to your highs.
#patience
Be the exception...not the rule.