Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price showing strong bearish intention, no sign of pullback found since we broke the daily swing structure.
4H: Bearish OF, same no sign of bullish found yet.
15m: Bearish OF, 15m bullish CHoCH found we may see this as a sign of bullish momentum kicking in. However, as we are heavily countering the HTF bearish momentum, I want to be conservative in playing Long. The 5m S2D with LQD (major demand) wasn't fully mitigated, price might come back to mitigates it to continue higher.
Momentum:
Daily & 4H: Strong Bearish momentum
15m: Some bullish momentum kicking in
Liquidity Condition:
We have structural LQ above both 15m & 5m demand, I was favoring the lower one as if price wants to initiate a pullback it needs more LQ in order to refuel the bullish momentum as HTF bearish momentum is strong.
Trade Idea: Wait
I want to see how price react to the demand below, whether price respect the demand. If price do give a 15m CHoCH after mitigating the demand without breaking the low, we could get in some Long. Just keep in mind that playing Long is countering the HTF Bias, manage the risk carefully.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price showing strong bearish intention, no sign of pullback found since we broke the daily swing structure.
4H: Bearish OF, same no sign of bullish found yet.
15m: Bearish OF, 15m bullish CHoCH found we may see this as a sign of bullish momentum kicking in. However, as we are heavily countering the HTF bearish momentum, I want to be conservative in playing Long. The 5m S2D with LQD (major demand) wasn't fully mitigated, price might come back to mitigates it to continue higher.
Momentum:
Daily & 4H: Strong Bearish momentum
15m: Some bullish momentum kicking in
Liquidity Condition:
We have structural LQ above both 15m & 5m demand, I was favoring the lower one as if price wants to initiate a pullback it needs more LQ in order to refuel the bullish momentum as HTF bearish momentum is strong.
Trade Idea: Wait
I want to see how price react to the demand below, whether price respect the demand. If price do give a 15m CHoCH after mitigating the demand without breaking the low, we could get in some Long. Just keep in mind that playing Long is countering the HTF Bias, manage the risk carefully.