Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price has pullback to the daily major supply (daily IB before major swing BOS)
4H: Bearish OF, price tap into the major supply and gives a 4H CHoCH, price is now back into bearish OF in the inner structure of 4H bearish leg which aligned with HTF. Although the LH is not confirmed yet but it's HP price will continue bearish from here.
1H/15m: Bearish OF, price give a nice 1H swing BOS to the downside with nice bearish momentum follow through. Price is now tap into a 15m demand from the left and give a 15m CHoCH, as price hasn't give a decent pullback to the most recent 1H bearish leg yet, we may consider price to initiate the pullback from here as we can see bullish momentum has started to kick in (15m CHoCH).
Momentum:
1H: The most recent bearish move that initiated by the daily OB is relatively impulsive compare to the prevailing upward move.
15m: At the end of 1H bearish move there is some descending nature formed. In 15m, price has pushed to the upside with some bullish momentum after the descending nature.
Liquidity Condition:
Price just grab the LQ from the left then tap into 15m demand, as price is now seems to initiate a pullback of the bearish leg, we could expect price to form downside LQ during the pullback for future bearish move.
Trade Idea: Wait for bullish intention to confirmed to play the Long
Long: Play the pullback of 1H bearish leg, play until price back to the 15m decisional supply before the 15m BOS in premium. However, to play Long we need the bullish intention to confirmed as we countering the HTF intention, at this point the bullish intention has shown but isn't confirmed yet, we have a 15m CHoCH but no HL found, the 15m bullish OF is not confirmed yet until we see a respect to the demand/15m bullish OF.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price has pullback to the daily major supply (daily IB before major swing BOS)
4H: Bearish OF, price tap into the major supply and gives a 4H CHoCH, price is now back into bearish OF in the inner structure of 4H bearish leg which aligned with HTF. Although the LH is not confirmed yet but it's HP price will continue bearish from here.
1H/15m: Bearish OF, price give a nice 1H swing BOS to the downside with nice bearish momentum follow through. Price is now tap into a 15m demand from the left and give a 15m CHoCH, as price hasn't give a decent pullback to the most recent 1H bearish leg yet, we may consider price to initiate the pullback from here as we can see bullish momentum has started to kick in (15m CHoCH).
Momentum:
1H: The most recent bearish move that initiated by the daily OB is relatively impulsive compare to the prevailing upward move.
15m: At the end of 1H bearish move there is some descending nature formed. In 15m, price has pushed to the upside with some bullish momentum after the descending nature.
Liquidity Condition:
Price just grab the LQ from the left then tap into 15m demand, as price is now seems to initiate a pullback of the bearish leg, we could expect price to form downside LQ during the pullback for future bearish move.
Trade Idea: Wait for bullish intention to confirmed to play the Long
Long: Play the pullback of 1H bearish leg, play until price back to the 15m decisional supply before the 15m BOS in premium. However, to play Long we need the bullish intention to confirmed as we countering the HTF intention, at this point the bullish intention has shown but isn't confirmed yet, we have a 15m CHoCH but no HL found, the 15m bullish OF is not confirmed yet until we see a respect to the demand/15m bullish OF.