Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, price is now in the pullback of 4H bearish leg but haven't pullback to the 50% yet
15m: Bullish OF, impulsive move up, corrective down.
Momentum:
4H: Bearish momentum is strong, price is now having a relatively corrective pullback, expect price to run the 4H low and create a new LL after completing the pullback as the pullback is initiated by a minor demand, expect price to continue down to reach the extreme demand.
15m: Bullish momentum is having control. We can see from the way price move up and move down. In the most recent PA, price move with impulsive bullish candles and corrective bearish candles, price move down is much resistance. We found LQ sitting at the previous 15m low, price may run the LQ and continue bullish.
Trade Idea: LONG
Favoring LONG until price pullback into our supply in premium
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, price is now in the pullback of 4H bearish leg but haven't pullback to the 50% yet
15m: Bullish OF, impulsive move up, corrective down.
Momentum:
4H: Bearish momentum is strong, price is now having a relatively corrective pullback, expect price to run the 4H low and create a new LL after completing the pullback as the pullback is initiated by a minor demand, expect price to continue down to reach the extreme demand.
15m: Bullish momentum is having control. We can see from the way price move up and move down. In the most recent PA, price move with impulsive bullish candles and corrective bearish candles, price move down is much resistance. We found LQ sitting at the previous 15m low, price may run the LQ and continue bullish.
Trade Idea: LONG
Favoring LONG until price pullback into our supply in premium
Comment:
Price come back to my refined POI, 1m CHoCH & Flip found, inducement found, valid entry
Comment:
Triggered me in hit 4R BE in 5m
Targeting the 15m extreme supply
Comment:
Taken out by 0.2 pips, would be a good trade if given a 2.5 pips SL
Comment:
Price reacted to our refined POI both supply and demand. Try to catch a LONG from the refined demand but got taken out by BE, didn't catch the SHORT as it's my non-trading hour.