Current Market Condition:
Market Structure (MS) & Order Flow (OF):
4H: Price is in the pullback of daily & 4H bullish leg.
1H & 15m: Price give a CHoCH in 1H and 15m, price is now back into bullish OF. Based on Expectational Order Flow, we should expect price to continue to push higher. However, price is moving correctively. Compare to the previous down move, price is now moving quite correctively to the upside, it is a sign of insufficient bullish momentum.
Momentum (1H & 15m): Lack of bullish momentum
From the most recent PA we can see that price is showing a corrective move to the upside. It's a sign of insufficient momentum. If the price want to go further up, we may expect price to grab the LQ and use the 1H demand as a catalyst for higher price.
Market Structure (MS) & Order Flow (OF):
4H: Price is in the pullback of daily & 4H bullish leg.
1H & 15m: Price give a CHoCH in 1H and 15m, price is now back into bullish OF. Based on Expectational Order Flow, we should expect price to continue to push higher. However, price is moving correctively. Compare to the previous down move, price is now moving quite correctively to the upside, it is a sign of insufficient bullish momentum.
Momentum (1H & 15m): Lack of bullish momentum
From the most recent PA we can see that price is showing a corrective move to the upside. It's a sign of insufficient momentum. If the price want to go further up, we may expect price to grab the LQ and use the 1H demand as a catalyst for higher price.