Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just broke the daily major swing structure and now in the pullback stage.
4H: Bearish OF, price already pullback to the premium of the 4H bearish leg. However, price haven't back to the major supply yet, still got room to continue up.
1H/15m: Bullish OF, price respect 1H strong low but haven't put in a new 1H HH yet, we can see price is now reacting to the 15m extreme and moving correctively down. In terms of 15m structure, we have a strong demand below the inducement, if price grab the LQ and respect the 15m demand and shows a bullish intention, we can still consider to play a LONG from there as LQ & momentum is in our side.
Momentum:
15m: Bullish, the way price move down in the most recent leg is relatively corrective.
Liquidity Condition:
15m: There are LQ sitting at both upside and downside. Currently, I expect the price to grab the downside LQ first as supply is now having the control. Price is moving in a supply chain, mitigation to mitigation which creating upside LQ for future use.
Trade Idea: Long
If price tap into the major 15m demand below the LQ and show bullish intention, I will be looking for LONG. If price take out the low, I will be re-considering my bias.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just broke the daily major swing structure and now in the pullback stage.
4H: Bearish OF, price already pullback to the premium of the 4H bearish leg. However, price haven't back to the major supply yet, still got room to continue up.
1H/15m: Bullish OF, price respect 1H strong low but haven't put in a new 1H HH yet, we can see price is now reacting to the 15m extreme and moving correctively down. In terms of 15m structure, we have a strong demand below the inducement, if price grab the LQ and respect the 15m demand and shows a bullish intention, we can still consider to play a LONG from there as LQ & momentum is in our side.
Momentum:
15m: Bullish, the way price move down in the most recent leg is relatively corrective.
Liquidity Condition:
15m: There are LQ sitting at both upside and downside. Currently, I expect the price to grab the downside LQ first as supply is now having the control. Price is moving in a supply chain, mitigation to mitigation which creating upside LQ for future use.
Trade Idea: Long
If price tap into the major 15m demand below the LQ and show bullish intention, I will be looking for LONG. If price take out the low, I will be re-considering my bias.
Comment:
5m View: Supply Chain, Supply is having control, in order to play Long, we want to see bullish OF kicking in and demand take back the control.
Comment:
I was looking for the lower zone, thought the first zone is too near to the price and might get swept, price eventually react to that S2D zone and fly without me.
Lesson learned: If the pullback is not initiated by any significant supply, we can still play the Long with the flip zone, don't expect price to go lower if it's already turned into bullish.