Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF. In 4HTF, PA is descending, which indicates price is losing bearish momentum when it approaches the daily extreme demand. Also, in 4H, price didn't close below the previous swing low, therefore this low is not a confirmed LL. As we are in HTF demand zone and 4H failed to close below the previous swing low, the high could be weak and price could reverse from here and give a higher price.
Momentum:
4H: Price is losing bearish momentum, descending nature found when price tap into the daily demand.
Trade Idea: Wait for bearish intention to be confirmed
If price shows bearish intention from the 15m major supply zone, we can still looking for Short as our MS & OF are still in bearish. Best to wait for 15m CHoCH
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF. In 4HTF, PA is descending, which indicates price is losing bearish momentum when it approaches the daily extreme demand. Also, in 4H, price didn't close below the previous swing low, therefore this low is not a confirmed LL. As we are in HTF demand zone and 4H failed to close below the previous swing low, the high could be weak and price could reverse from here and give a higher price.
Momentum:
4H: Price is losing bearish momentum, descending nature found when price tap into the daily demand.
Trade Idea: Wait for bearish intention to be confirmed
If price shows bearish intention from the 15m major supply zone, we can still looking for Short as our MS & OF are still in bearish. Best to wait for 15m CHoCH
Comment:
3/12/21 PA Update: Price respected the supply, bearish intention found
Comment:
15m: Instead of respecting the zone, price use it as LQ and we get a 15m CHoCH immediately after the sweep.
1m: If price go above the LQ and give a 1m CHoCH I'm willing to get into a short.
Comment:
Entered with 5s CHoCH after LQ swept as expected.
Comment:
Second Entry opportunity: