Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Bullish OF, price is now still in the pullback stage of the 4H bullish leg. Price failed to put in a new 4H HH, the previous low will be consider weak and expect to get run.
15m: Bearish OF, price is now in the pullback stage of the most recent 15m bearish leg.
Momentum:
4H: Insufficient bullish momentum to sustain the 4H bullish OF, supply take over control now.
15m: Impulsive down move, corrective up move. Momentum is aligned with 15m bearish OF, we can see price is now pulling back correctively, considering a complex pullback.
Liquidity Condition:
Considering price wants to continue 4H bullish OF, price will be seeking to refuel bullish momentum, the structural low will be the best LQ to use for liquidation and the daily demand will be the best catalyst to refuel the momentum.
Trade Idea: Long to Short to Long
In 5mTF, demand has taken back the control, as price hasn't pullback to the premium of 15m bearish leg, we can consider price still got room to go up, we might have a chance to play Long from here. However, put in mind that we expect 15m to continue bearish, this is the main idea, as long as price shows bearish intention we can start to play short until price reach to the daily demand then look for Long to continue 4H bullish OF if bullish intention found.
Market Structure (MS) & Order Flow (OF):
4H: Bullish OF, price is now still in the pullback stage of the 4H bullish leg. Price failed to put in a new 4H HH, the previous low will be consider weak and expect to get run.
15m: Bearish OF, price is now in the pullback stage of the most recent 15m bearish leg.
Momentum:
4H: Insufficient bullish momentum to sustain the 4H bullish OF, supply take over control now.
15m: Impulsive down move, corrective up move. Momentum is aligned with 15m bearish OF, we can see price is now pulling back correctively, considering a complex pullback.
Liquidity Condition:
Considering price wants to continue 4H bullish OF, price will be seeking to refuel bullish momentum, the structural low will be the best LQ to use for liquidation and the daily demand will be the best catalyst to refuel the momentum.
Trade Idea: Long to Short to Long
In 5mTF, demand has taken back the control, as price hasn't pullback to the premium of 15m bearish leg, we can consider price still got room to go up, we might have a chance to play Long from here. However, put in mind that we expect 15m to continue bearish, this is the main idea, as long as price shows bearish intention we can start to play short until price reach to the daily demand then look for Long to continue 4H bullish OF if bullish intention found.
Comment:
As expected, price respect the major demand and continue bullish OF in LTF. But no entry found, price fly without me, prepare for the next one.
