EURUSD - 8 November 2021
Current Market Condition:
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price didn't pullback to the premium of the daily bearish leg. Price is now breaking the low without follow through. In terms of daily structure, price hasn't put in a new LL yet, the high is not confirmed as a strong high until price closed below the previous swing low. From the wicks to downside, we can tell there is a strong rejection for price to go lower.
4H: Bearish OF, after price taken out the previous daily swing low, it immediately give a 4H CHoCH. Although swing structure is still in bearish but from the CHoCH we can tell there are some bullish intention kicking in.
15m: Bullish OF, in the most recent bullish leg, price failed to close above the previous 15m swing high which makes the low cannot be confirmed as a strong low. Price could take out the structural low for liquidation to go higher as price didn't give a decent pullback after the first 15m BOS to EQ. A 15mTF liquidation might be needed to refuel the bullish momentum.
Momentum:
15m: Price is now showing a sign of losing bullish momentum, failed to follow through after breaking the most recent 15m high.
Liquidity Condition:
15m: Previous 15m swing low might be use as structural LQ for higher price, depends on how price breaking it. If it is a LQ grab we can see aggressive retrace after taking out the LQ from left, V-shape recovery / wick through the low.
Trade Idea: Wait
See how price react to our 15m zone within the structure. If price choose to take out the structural LQ, keep our eyes on what happen after price taking out the 15m low.
Market Structure (MS) & Order Flow (OF):
Daily: Bearish OF, price didn't pullback to the premium of the daily bearish leg. Price is now breaking the low without follow through. In terms of daily structure, price hasn't put in a new LL yet, the high is not confirmed as a strong high until price closed below the previous swing low. From the wicks to downside, we can tell there is a strong rejection for price to go lower.
4H: Bearish OF, after price taken out the previous daily swing low, it immediately give a 4H CHoCH. Although swing structure is still in bearish but from the CHoCH we can tell there are some bullish intention kicking in.
15m: Bullish OF, in the most recent bullish leg, price failed to close above the previous 15m swing high which makes the low cannot be confirmed as a strong low. Price could take out the structural low for liquidation to go higher as price didn't give a decent pullback after the first 15m BOS to EQ. A 15mTF liquidation might be needed to refuel the bullish momentum.
Momentum:
15m: Price is now showing a sign of losing bullish momentum, failed to follow through after breaking the most recent 15m high.
Liquidity Condition:
15m: Previous 15m swing low might be use as structural LQ for higher price, depends on how price breaking it. If it is a LQ grab we can see aggressive retrace after taking out the LQ from left, V-shape recovery / wick through the low.
Trade Idea: Wait
See how price react to our 15m zone within the structure. If price choose to take out the structural LQ, keep our eyes on what happen after price taking out the 15m low.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.