Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, now we have a valid 4H BOS but price yet to give a pullback.
15m: Bearish OF with bullish CHoCH, price gives a bullish CHoCH and 15m S2D flip, a sign of pullback to the most recent bearish leg. The 15m demand zone hasn't been mitigated yet and there is an inducement right above the zone, as price haven't pullback to any significant supply or the EQ yet, I still consider there are some room for price to go higher.
Momentum:
15m: The bearish move is impulsive and now the way price moving back up is relatively corrective, showing that bearish momentum is stronger. Therefore, I consider the up move will more likely to be a pullback instead of trend change.
Liquidity Condition:
At the moment, the 15m inner structure high is formed poorly, which might be used as a cause for price to continue higher.
Trade Idea: Long
At the moment, demand is having the control, although it's most likely to be a pullback of the bearish leg but we still can play Long as price hasn't pullback to the premium yet. The 15m S2D with LQD is a nice zone to play Long from.
Market Structure (MS) & Order Flow (OF):
4H: Bearish OF, now we have a valid 4H BOS but price yet to give a pullback.
15m: Bearish OF with bullish CHoCH, price gives a bullish CHoCH and 15m S2D flip, a sign of pullback to the most recent bearish leg. The 15m demand zone hasn't been mitigated yet and there is an inducement right above the zone, as price haven't pullback to any significant supply or the EQ yet, I still consider there are some room for price to go higher.
Momentum:
15m: The bearish move is impulsive and now the way price moving back up is relatively corrective, showing that bearish momentum is stronger. Therefore, I consider the up move will more likely to be a pullback instead of trend change.
Liquidity Condition:
At the moment, the 15m inner structure high is formed poorly, which might be used as a cause for price to continue higher.
Trade Idea: Long
At the moment, demand is having the control, although it's most likely to be a pullback of the bearish leg but we still can play Long as price hasn't pullback to the premium yet. The 15m S2D with LQD is a nice zone to play Long from.