Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF with bullish intention, daily CHoCH with daily S2D flip found, indicating pullback of daily bearish leg, haven't reach to the EQ yet.
4H: Bullish OF, price is now in the pullback of the most recent 4H bullish leg, price failed to put in a new 4H HH, we might expect price to mitigates the deeper demand, expecting price to mitigates the daily wick.
15m: Bearish OF, price respect the extreme supply by giving a 15m CHoCH, price is showing strong bearish momentum at this point but LH hasn't been confirmed yet. As price just liquidates the LQ from the left and slightly mitigates the 1H demand and give a strong reaction (V-shape recovery), there is a chance that price will continue higher (new HH), and this aggressive bearish move is just a pullback to liquidates the LQ formed from the left to refuel the bullish momentum.
Momentum:
15m: V-shape recovery found after price swept most of the LQ from the left and tap into the 1H OB. Aggressive in and aggressive out.
Liquidity Condition:
In terms of 4H, the low that failed to put in a new 4H HH could be use as structural LQ.
Trade Idea: Both
If price approaching the 30m major supply with sign of losing bullish momentum, we may play the short, if price still going with strong bullish momentum like this, it's better to stay out and prepare for Long unless price shows a bearish intention.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF with bullish intention, daily CHoCH with daily S2D flip found, indicating pullback of daily bearish leg, haven't reach to the EQ yet.
4H: Bullish OF, price is now in the pullback of the most recent 4H bullish leg, price failed to put in a new 4H HH, we might expect price to mitigates the deeper demand, expecting price to mitigates the daily wick.
15m: Bearish OF, price respect the extreme supply by giving a 15m CHoCH, price is showing strong bearish momentum at this point but LH hasn't been confirmed yet. As price just liquidates the LQ from the left and slightly mitigates the 1H demand and give a strong reaction (V-shape recovery), there is a chance that price will continue higher (new HH), and this aggressive bearish move is just a pullback to liquidates the LQ formed from the left to refuel the bullish momentum.
Momentum:
15m: V-shape recovery found after price swept most of the LQ from the left and tap into the 1H OB. Aggressive in and aggressive out.
Liquidity Condition:
In terms of 4H, the low that failed to put in a new 4H HH could be use as structural LQ.
Trade Idea: Both
If price approaching the 30m major supply with sign of losing bullish momentum, we may play the short, if price still going with strong bullish momentum like this, it's better to stay out and prepare for Long unless price shows a bearish intention.
Comment:
Price as expected respect the refined supply and continue down, not in any trades because at the moment the PA seems messy, market isn't showing clear intention.
