Current Market Condition:
Market Structure & Order Flow:
Daily: Bearish OF, price mitigate the IFC and shows some bullish momentum but haven't take out the daily swing high yet, still consider bearish.
4H: Bearish OF, price broke the previous swing low with strong bearish momentum. Clean and clear down move, convincing enough to me that 4H has now turn into bearish trend.
Momentum:
4H: Strong bearish momentum, price broke multiple swing structure from the left.
Trade Idea: Wait for bullish intention (1H CHoCH) to confirm for LONG.
Price is overextended to play a SHORT here unless price shows a good opportunity such as Mitigating a major supply and give a convincing CHoCH. Not the best time to play a LONG here too, remember we are in strong bearish trend, don't try to catch the falling knife here, wait for bullish intention to play a LONG for the pullback of 4H bearish leg.
Don't predict, respond to what the market gives.
Market Structure & Order Flow:
Daily: Bearish OF, price mitigate the IFC and shows some bullish momentum but haven't take out the daily swing high yet, still consider bearish.
4H: Bearish OF, price broke the previous swing low with strong bearish momentum. Clean and clear down move, convincing enough to me that 4H has now turn into bearish trend.
Momentum:
4H: Strong bearish momentum, price broke multiple swing structure from the left.
Trade Idea: Wait for bullish intention (1H CHoCH) to confirm for LONG.
Price is overextended to play a SHORT here unless price shows a good opportunity such as Mitigating a major supply and give a convincing CHoCH. Not the best time to play a LONG here too, remember we are in strong bearish trend, don't try to catch the falling knife here, wait for bullish intention to play a LONG for the pullback of 4H bearish leg.
Don't predict, respond to what the market gives.