Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF price broke the major daily swing low and the strong low (IFC), and now price is in the pullback stage of the most recent bearish leg.
4H: Bearish OF, price has pullback to the premium of the 4H bearish leg but haven't reach to the major supply yet.
1H: Bullish OF, price is now in 1H Bullish OF. However, from the way price move up and break the MRH, we can clearly see price is losing bullish momentum. Remember, in HTF we are in strong bearish, price could continue bearish from anywhere it wants as it's align with pro-trend. Also, the most recent 1H low is formed poorly, price could use it for liquidation purpose to refuel the bullish momentum if it wants to.
Momentum:
1H: Losing bullish momentum, price break the MRH and retrace immediately, no convincing follow through found.
Liquidity Condition:
Downside: 1H Structural Low, weak low due to formed poorly
Upside: 15m price moves from mitigation to mitigation, supply chain found but also left tons of LQ above.
Trade Idea: Both
It's not necessary for price to mitigates the strong supply to refuel the bearish momentum, if we see supply kicking in and starting to take back the control and bearish intention is confirmed, we can still play the short. If price choose to respect the 1H bullish OF, we can still play the LONG until it reach our major supply.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF price broke the major daily swing low and the strong low (IFC), and now price is in the pullback stage of the most recent bearish leg.
4H: Bearish OF, price has pullback to the premium of the 4H bearish leg but haven't reach to the major supply yet.
1H: Bullish OF, price is now in 1H Bullish OF. However, from the way price move up and break the MRH, we can clearly see price is losing bullish momentum. Remember, in HTF we are in strong bearish, price could continue bearish from anywhere it wants as it's align with pro-trend. Also, the most recent 1H low is formed poorly, price could use it for liquidation purpose to refuel the bullish momentum if it wants to.
Momentum:
1H: Losing bullish momentum, price break the MRH and retrace immediately, no convincing follow through found.
Liquidity Condition:
Downside: 1H Structural Low, weak low due to formed poorly
Upside: 15m price moves from mitigation to mitigation, supply chain found but also left tons of LQ above.
Trade Idea: Both
It's not necessary for price to mitigates the strong supply to refuel the bearish momentum, if we see supply kicking in and starting to take back the control and bearish intention is confirmed, we can still play the short. If price choose to respect the 1H bullish OF, we can still play the LONG until it reach our major supply.
Commentaire:
