Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, 4H Bullish CHoCH found after descending nature, price is now in the pullback of the most recent bullish leg, the large wick to downside indicating a strong rejection to go down which gives us a confluence for Long.
1H/15m: Bullish OF, in the inner structure, price has give another bullish CHoCH after the pullback, although the price didn't pullback to the 15m S2D demand below that I marked out earlier, the 15m CHoCH showing a strong bullish intention, price might not go back down to mitigates that demand. We are now in the pullback stage of the inner 15m bullish leg. Price has pullback to the EQ of the leg but supply is still having control.
Momentum:
4H: Starting to see some bullish intention kicking in after descending nature (losing bearish intention).
1H/15m: Impulsive up move, corrective down move, bullish momentum seems like stronger.
Liquidity Condition:
Tons of LTF structural LQ formed in the left, keep an eyes on how price react after taking out those LQ.
Trade Idea: Long
I'm favoring Long at the moment, the best situation I want to see is price take out the LQ from the left and immediately give a significant bullish CHoCH. TP at least target the inner 15m High or even the 15m major structure high.
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, 4H Bullish CHoCH found after descending nature, price is now in the pullback of the most recent bullish leg, the large wick to downside indicating a strong rejection to go down which gives us a confluence for Long.
1H/15m: Bullish OF, in the inner structure, price has give another bullish CHoCH after the pullback, although the price didn't pullback to the 15m S2D demand below that I marked out earlier, the 15m CHoCH showing a strong bullish intention, price might not go back down to mitigates that demand. We are now in the pullback stage of the inner 15m bullish leg. Price has pullback to the EQ of the leg but supply is still having control.
Momentum:
4H: Starting to see some bullish intention kicking in after descending nature (losing bearish intention).
1H/15m: Impulsive up move, corrective down move, bullish momentum seems like stronger.
Liquidity Condition:
Tons of LTF structural LQ formed in the left, keep an eyes on how price react after taking out those LQ.
Trade Idea: Long
I'm favoring Long at the moment, the best situation I want to see is price take out the LQ from the left and immediately give a significant bullish CHoCH. TP at least target the inner 15m High or even the 15m major structure high.