Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bullish OF, initiated by HTF liquidation (swept weak low) & HTF Mitigation (Daily Extreme Demand with Liquidation). Price is now in the pullback of daily bullish leg, not convincing enough to define as a complex/corrective pullback, the down move is consider having the same sort of momentum with the up move.
4H: Bearish OF, price is now tapped into the 4H extreme (also daily extreme) demand and showed a strong reaction but failed to break the 4H swing high. However, if price want to continue the Daily Bullish OF, it should be from here.
15m: Bearish OF, price is now stuck in the middle of 15m range, price is showing a corrective move to the upside, moving up in ascending nature and slowly approaching the 15m supply. Based on the most recent PA, price is now forming downside LQ. In the near future, price may use the 15m supply above as the catalyst for grabbing the downside LQ
Momentum:
4H: Momentum starting to shift from bearish to bullish. From the most recent way price move up and move down, we can clearly see that price is receiving stronger resistance when it's trying to move down.
15m: Insufficient bullish momentum to initiate the bullish move yet, price need to refuel more bullish momentum and now is stacking LQ.
Liquidity Condition:
15m: Tons of upside liquidity stacked at the edge (0.25) of 15m range. In the middle of 15m range, price is stacking downside LQ for the price to refuel the bullish move.
Trade Idea: LONG
Based on overall analysis, I'm favoring LONG at least until price take out the 15m upside LQ.
Market Structure (MS) & Order Flow (OF):
Daily: Bullish OF, initiated by HTF liquidation (swept weak low) & HTF Mitigation (Daily Extreme Demand with Liquidation). Price is now in the pullback of daily bullish leg, not convincing enough to define as a complex/corrective pullback, the down move is consider having the same sort of momentum with the up move.
4H: Bearish OF, price is now tapped into the 4H extreme (also daily extreme) demand and showed a strong reaction but failed to break the 4H swing high. However, if price want to continue the Daily Bullish OF, it should be from here.
15m: Bearish OF, price is now stuck in the middle of 15m range, price is showing a corrective move to the upside, moving up in ascending nature and slowly approaching the 15m supply. Based on the most recent PA, price is now forming downside LQ. In the near future, price may use the 15m supply above as the catalyst for grabbing the downside LQ
Momentum:
4H: Momentum starting to shift from bearish to bullish. From the most recent way price move up and move down, we can clearly see that price is receiving stronger resistance when it's trying to move down.
15m: Insufficient bullish momentum to initiate the bullish move yet, price need to refuel more bullish momentum and now is stacking LQ.
Liquidity Condition:
15m: Tons of upside liquidity stacked at the edge (0.25) of 15m range. In the middle of 15m range, price is stacking downside LQ for the price to refuel the bullish move.
Trade Idea: LONG
Based on overall analysis, I'm favoring LONG at least until price take out the 15m upside LQ.
Reaction to 4H Major Supply is not Ideal