Last week we saw the completing of another trend move on the NAS100 where the market completed another HL and went on to complete the required HH.
As I have mentioned in previous posts, the NAS100 instrument has been an historically Bullish instrument since it's inception and that makes it easier to trade as all you have to do is the wail for the HL's to form in order to buy and the HH's to be completed in order to sell.
This is once such time where all the timeframes have recorded another historical high on Friday and as such there will be a retracement taking place in order to setup the next HL.
What does this mean?
My current bias is now going to be bearish...not for the long run, but for the retracement period.
So I will be selling until my HL is achieved.
As always:
Trade smartly
Exercise Patience
Trade what you see
No Setup = No Trade
#aubersystem
#auberstrategy
#whywewait
#patience