Current Market Condition:
Market Structure & Order Flow
4H: Bearish OF, price tap into our major demand and give a strong reaction. However, price failed to take out the 4H swing High, no mBOS found.
15m: Bullish OF, price hasn't take out 15m swing low yet but the 100% retrace and formed EQL is a sign of change of OF.
Momentum:
15m: Price come all the way down to the bottom and show little bullish momentum. From the chart, we can see price is now showing difficulty to move to upside.
Trade Idea: Focus on SHORT, expect the EQL to get run
Market Structure & Order Flow
4H: Bearish OF, price tap into our major demand and give a strong reaction. However, price failed to take out the 4H swing High, no mBOS found.
15m: Bullish OF, price hasn't take out 15m swing low yet but the 100% retrace and formed EQL is a sign of change of OF.
Momentum:
15m: Price come all the way down to the bottom and show little bullish momentum. From the chart, we can see price is now showing difficulty to move to upside.
Trade Idea: Focus on SHORT, expect the EQL to get run