Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just broke the previous daily swing low and put in a new Daily LL. Price is now in the pullback of the bearish leg but haven't pullback to the premium yet.
4H: Bearish OF but with bullish intention, price gave a 4H CHoCH and now has pullback to our 4H POI in premium, price could continue the 4H bearish OF from here. However, there is a strong 4H demand (LQ POI), if price shows strong reaction at the demand we still can play Long from here as price could continue a deeper pullback as the latest formed potential 4H LH isn't strong, price might have a chance to go higher from there.
15m: Bearish OF, price is now back into bearish OF which aligns with HTF OF, price swept LQ from the left without putting in a new 15m HH and respect the 15m extreme, price could probably go down from here and put in a new 15m LL.
Momentum:
4H: The up move/pullback is relatively corrective than the down move.
Liquidity Condition:
In 15mTF, price just grab LQ from the upside and give a quite strong rejection to the upside, trade away from the swept, I'm favoring short now.
Trade Idea: Short
Play Short until price reach the 4H LQ POI or when 15m print a CHoCH.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just broke the previous daily swing low and put in a new Daily LL. Price is now in the pullback of the bearish leg but haven't pullback to the premium yet.
4H: Bearish OF but with bullish intention, price gave a 4H CHoCH and now has pullback to our 4H POI in premium, price could continue the 4H bearish OF from here. However, there is a strong 4H demand (LQ POI), if price shows strong reaction at the demand we still can play Long from here as price could continue a deeper pullback as the latest formed potential 4H LH isn't strong, price might have a chance to go higher from there.
15m: Bearish OF, price is now back into bearish OF which aligns with HTF OF, price swept LQ from the left without putting in a new 15m HH and respect the 15m extreme, price could probably go down from here and put in a new 15m LL.
Momentum:
4H: The up move/pullback is relatively corrective than the down move.
Liquidity Condition:
In 15mTF, price just grab LQ from the upside and give a quite strong rejection to the upside, trade away from the swept, I'm favoring short now.
Trade Idea: Short
Play Short until price reach the 4H LQ POI or when 15m print a CHoCH.
Comment:
Price as expected continue the bearish momentum until it reach our 4H demand (LQ POI), since the bearish momentum is overwhelming at the moment, it's best to wait for bullish intention to shown to play a Long.
Comment: