Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price has now pullback into the daily major supply, expect price to give a strong reaction in the near future. Short in this strong supply zone is better than Long.
4H: Bearish OF, the pullback of 4H bearish leg is relatively corrective compare to the down move, price first reacted to the 4H B2S within the daily OB but bearish momentum failed to follow through, price then go through a market expansion to collect orders then continue bullish. The overall picture is price is moving in a large ascending nature to approach the 4H OB.
15m: Bullish OF, when the 15m major supply failed, I consider demand take back the control and would continue bullish until price mitigate the 4H OB, that's the intention. However, price is now mitigating an extreme from previous high and shows some sign of losing bullish momentum. Price may come back down and refuel the bullish momentum to continue bullish. Of course, there is a chance that demand still having the control and only pullback after it breaks the swing high.
Momentum:
4H: Losing bullish momentum while approaching the major supply, but demand still having the control at this point.
15m: Demand take back the control and price is now moving to the upside, either price will break the swing high now by following the OF or price may pullback to one of the demand to refuel the bullish move.
Liquidity Condition:
Upside structural LQ, downside 4H huge trendline LQ
Trade Idea: Long
Do not enter now as price is now at a high price and could respect the extreme. If price failed to break the extreme, we may see a pullback to refuel the bullish momentum, if price break the extreme, we can expect a pullback in the near future. Either way, we wait for the pullback to play a Long.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price has now pullback into the daily major supply, expect price to give a strong reaction in the near future. Short in this strong supply zone is better than Long.
4H: Bearish OF, the pullback of 4H bearish leg is relatively corrective compare to the down move, price first reacted to the 4H B2S within the daily OB but bearish momentum failed to follow through, price then go through a market expansion to collect orders then continue bullish. The overall picture is price is moving in a large ascending nature to approach the 4H OB.
15m: Bullish OF, when the 15m major supply failed, I consider demand take back the control and would continue bullish until price mitigate the 4H OB, that's the intention. However, price is now mitigating an extreme from previous high and shows some sign of losing bullish momentum. Price may come back down and refuel the bullish momentum to continue bullish. Of course, there is a chance that demand still having the control and only pullback after it breaks the swing high.
Momentum:
4H: Losing bullish momentum while approaching the major supply, but demand still having the control at this point.
15m: Demand take back the control and price is now moving to the upside, either price will break the swing high now by following the OF or price may pullback to one of the demand to refuel the bullish move.
Liquidity Condition:
Upside structural LQ, downside 4H huge trendline LQ
Trade Idea: Long
Do not enter now as price is now at a high price and could respect the extreme. If price failed to break the extreme, we may see a pullback to refuel the bullish momentum, if price break the extreme, we can expect a pullback in the near future. Either way, we wait for the pullback to play a Long.