Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price yet to pull back to the premium of the daily bearish leg. However, the daily low can be consider as a weak low as we have a 4H bearish CHoCH and flip. Price doesn't seems like having sufficient bullish momentum to pullback to the premium of the leg.
4H: Bearish OF, price pullback to the premium of the 4H bearish leg and give a 4H CHoCH with a significant 4H D2S flip.
15m: Bearish OF but losing bearish momentum. From the way price put in the new LL, price retrace immediately after put in a new LL, PA is flattened, we can tell that price is losing bearish momentum. Given that we are mitigating an extreme of 4H S2D and we have a 15m demand sitting below, we could see some up move in the near future.
Momentum:
4H: Bearish momentum is strong, 4H demand failed to hold, the daily low is probably going to get run too.
15m: Losing bearish momentum at the moment, we could see a pullback to happen in the near future.
Liquidity Condition:
Price might use the previous 4H inner structure low as LQ and mitigates the 15m demand below to initiate a temporary pullback.
Trade Idea: Wait
Not the best time to short as price is showing a sign of losing bearish momentum unless price pullback to our supply zone. Also, not the best price to long as supply is still having the control at the moment but if we get some reaction from the demand or 15m CHoCH we may consider to get in a Long as a pullback.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price yet to pull back to the premium of the daily bearish leg. However, the daily low can be consider as a weak low as we have a 4H bearish CHoCH and flip. Price doesn't seems like having sufficient bullish momentum to pullback to the premium of the leg.
4H: Bearish OF, price pullback to the premium of the 4H bearish leg and give a 4H CHoCH with a significant 4H D2S flip.
15m: Bearish OF but losing bearish momentum. From the way price put in the new LL, price retrace immediately after put in a new LL, PA is flattened, we can tell that price is losing bearish momentum. Given that we are mitigating an extreme of 4H S2D and we have a 15m demand sitting below, we could see some up move in the near future.
Momentum:
4H: Bearish momentum is strong, 4H demand failed to hold, the daily low is probably going to get run too.
15m: Losing bearish momentum at the moment, we could see a pullback to happen in the near future.
Liquidity Condition:
Price might use the previous 4H inner structure low as LQ and mitigates the 15m demand below to initiate a temporary pullback.
Trade Idea: Wait
Not the best time to short as price is showing a sign of losing bearish momentum unless price pullback to our supply zone. Also, not the best price to long as supply is still having the control at the moment but if we get some reaction from the demand or 15m CHoCH we may consider to get in a Long as a pullback.