Current market condition
MS & OF:
In 4H, Price trying to break the 4H low, hasn't close below the previous low yet but the FR is a strong signal that the 4H major demand has failed. Price will probably continue down and switch 4H from bullish > bearish OF. As a conclusion, price has shown a bearish intention although we are in 4H bullish OF. In 15m, price has give a major CHoCH and break 15m swing structure, 15m OF is now in bearish. However, price hasn't give a decent pullback (pullback to premium) for 15m bearish leg. Price is moving from mitigation to mitigation, it's respecting the 15m supply. In this case, PA in 1H is clearer than 15m, we may use 1H as our main structure to define the swing point.
Momentum (4H/15m):
From the momentum perspective, price tap into the 4H demand but move up correctively, it's more likely to be a pullback of the bearish leg. Price tap into the 4H supply and respected it, price then continue the bearish move. We can clearly see the way price moving down is more easier and has less resistance than moving up. Bearish momentum > Bullish momentum.
Trade Idea:
Following the bearish OF and momentum, play the SHORT until price tap into our major demand below or show a strong bullish intention.
MS & OF:
In 4H, Price trying to break the 4H low, hasn't close below the previous low yet but the FR is a strong signal that the 4H major demand has failed. Price will probably continue down and switch 4H from bullish > bearish OF. As a conclusion, price has shown a bearish intention although we are in 4H bullish OF. In 15m, price has give a major CHoCH and break 15m swing structure, 15m OF is now in bearish. However, price hasn't give a decent pullback (pullback to premium) for 15m bearish leg. Price is moving from mitigation to mitigation, it's respecting the 15m supply. In this case, PA in 1H is clearer than 15m, we may use 1H as our main structure to define the swing point.
Momentum (4H/15m):
From the momentum perspective, price tap into the 4H demand but move up correctively, it's more likely to be a pullback of the bearish leg. Price tap into the 4H supply and respected it, price then continue the bearish move. We can clearly see the way price moving down is more easier and has less resistance than moving up. Bearish momentum > Bullish momentum.
Trade Idea:
Following the bearish OF and momentum, play the SHORT until price tap into our major demand below or show a strong bullish intention.