Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just formed a daily LL, could give a pullback in the near future.
4H: Bearish OF with bullish CHoCH, the swing structure is same with the most recent daily structure but in 4HTF, we can clearly see a 4H Bullish CHoCH. At the moment price seems like respecting the 4H low. It's a sign for higher price if the low could hold. In other perspective, we could see price break the high but failed to follow through and failed to break the low, a sign of range.
1H/15m: Bearish OF, 15m is now back into bearish OF, therefore the supply above are significant level that price could continue lower from. However, at the moment demand is still having the control, price is forming HH & HL.
Momentum:
Daily: Bearish momentum is overwhelming, we can see price keep printing lower price.
15m: In 15m, price seems like having a corrective pullback to the most recent 15m bearish leg. However, the differences in 4H is not that obvious.
Liquidity Condition:
Both side is having LQ. Tons of LQ sitting above formed from previous downward trend, the swing low will be the structural LQ that induce price to go lower too. At the moment, LQ couldn't be the main factor for defining the market bias.
Trade Idea: Both
As price is in a HTF demand level and has give a daily BOS recently, playing Long from low price is definitely valid. However, playing Short and looking for continuation from 15m structure which aligned with daily structure is valid too. As a conclusion, 4H is indecisive at the moment, 15m is bearish, daily is bearish. LTF, demand is having control.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price just formed a daily LL, could give a pullback in the near future.
4H: Bearish OF with bullish CHoCH, the swing structure is same with the most recent daily structure but in 4HTF, we can clearly see a 4H Bullish CHoCH. At the moment price seems like respecting the 4H low. It's a sign for higher price if the low could hold. In other perspective, we could see price break the high but failed to follow through and failed to break the low, a sign of range.
1H/15m: Bearish OF, 15m is now back into bearish OF, therefore the supply above are significant level that price could continue lower from. However, at the moment demand is still having the control, price is forming HH & HL.
Momentum:
Daily: Bearish momentum is overwhelming, we can see price keep printing lower price.
15m: In 15m, price seems like having a corrective pullback to the most recent 15m bearish leg. However, the differences in 4H is not that obvious.
Liquidity Condition:
Both side is having LQ. Tons of LQ sitting above formed from previous downward trend, the swing low will be the structural LQ that induce price to go lower too. At the moment, LQ couldn't be the main factor for defining the market bias.
Trade Idea: Both
As price is in a HTF demand level and has give a daily BOS recently, playing Long from low price is definitely valid. However, playing Short and looking for continuation from 15m structure which aligned with daily structure is valid too. As a conclusion, 4H is indecisive at the moment, 15m is bearish, daily is bearish. LTF, demand is having control.