Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price is now tapped into a demand from the left and gives a strong rejection to downside. From the way price move back up we can tell, there is bullish momentum kicking in.
4H: Bearish OF, price pullback to the extreme supply after 4H BOS.
15m: Bearish OF, price is now moving within the large 15m range after the impulsive move, price pullback to extreme and mitigates the extreme supply and gives a 15m CHoCH in the inner structure. At the moment, demand still having the control, price approaching the extreme with ascending nature, I will not surprise if price respect the extreme and continue the HTF bearish OF as we are overall in bearish.
Momentum:
15m: losing bullish momentum, ascending nature found after 15m CHoCH approaching the extreme supply.
Liquidity Condition:
No significant LQ found, both side having structural LQ to be taken.
Trade Idea: Short
If price choose to respect the 15m extreme, we could see another LTF CHoCH, we may look for a short when bearish intention found. If price take out this supply, we could say that price respect the HTF demand from the left and we could expect a daily pullback to happen.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price is now tapped into a demand from the left and gives a strong rejection to downside. From the way price move back up we can tell, there is bullish momentum kicking in.
4H: Bearish OF, price pullback to the extreme supply after 4H BOS.
15m: Bearish OF, price is now moving within the large 15m range after the impulsive move, price pullback to extreme and mitigates the extreme supply and gives a 15m CHoCH in the inner structure. At the moment, demand still having the control, price approaching the extreme with ascending nature, I will not surprise if price respect the extreme and continue the HTF bearish OF as we are overall in bearish.
Momentum:
15m: losing bullish momentum, ascending nature found after 15m CHoCH approaching the extreme supply.
Liquidity Condition:
No significant LQ found, both side having structural LQ to be taken.
Trade Idea: Short
If price choose to respect the 15m extreme, we could see another LTF CHoCH, we may look for a short when bearish intention found. If price take out this supply, we could say that price respect the HTF demand from the left and we could expect a daily pullback to happen.