Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, bearish intention is strong, no sign of pullback found in daily TF although we are in weekly demand. As price is still pushing down with strong bearish momentum, daily LL is not confirmed.
4H: Bearish OF, price break the most recent 4H swing low but no follow through yet. Given that we are in strong bearish in HTF and no strong bullish momentum kicking in after the FBOS, price is most likely to continue bearish.
15m: Bullish OF, although price give a BOS to upside but no respect to demand found yet. Price is now still respecting the supply chain after 15m BOS to upside.
Momentum:
Daily: Bearish momentum is strong, no sign of bullish momentum taking control.
15m: In terms of structure, we have a impulsive break to the upside and corrective pullback. However, the supply take over control after the BOS and price is respecting the supply chain at the moment.
Liquidity Condition:
Poor high formed below the 15m LQ POI, if price wants to continue the bearish OF, it could use this poor high as LQ.
Trade Idea: Short
HTF is clearly showing bearish intention, although 15m shows some sign of bullish (15m BOS to upside) but it's not convincing enough for me to play a Long from here unless price starts respecting demand and take out the 15m supply (LQ POI). I'll be favoring short until price take out the high of LQ POI.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, bearish intention is strong, no sign of pullback found in daily TF although we are in weekly demand. As price is still pushing down with strong bearish momentum, daily LL is not confirmed.
4H: Bearish OF, price break the most recent 4H swing low but no follow through yet. Given that we are in strong bearish in HTF and no strong bullish momentum kicking in after the FBOS, price is most likely to continue bearish.
15m: Bullish OF, although price give a BOS to upside but no respect to demand found yet. Price is now still respecting the supply chain after 15m BOS to upside.
Momentum:
Daily: Bearish momentum is strong, no sign of bullish momentum taking control.
15m: In terms of structure, we have a impulsive break to the upside and corrective pullback. However, the supply take over control after the BOS and price is respecting the supply chain at the moment.
Liquidity Condition:
Poor high formed below the 15m LQ POI, if price wants to continue the bearish OF, it could use this poor high as LQ.
Trade Idea: Short
HTF is clearly showing bearish intention, although 15m shows some sign of bullish (15m BOS to upside) but it's not convincing enough for me to play a Long from here unless price starts respecting demand and take out the 15m supply (LQ POI). I'll be favoring short until price take out the high of LQ POI.