As the price has reached to the Daily Extreme Unmitigated Supply, and sweeping the internal high, might fuel bearish momentum. It is logical to wait for 4H choch and entry models in lower time frames.
Note
Daily Swing Structure is bearish, Internal Structure is bullish and the price has reached to the Daily Extreme unmitigated Supply. As sweeping the internal high, bearish momentum might kick in. Or we might see fresh 4H liquidation in Daily Supply Zone before momentum turns in to bearish. It is logical to wait for 4H bearish Choch and entry models in lower time frames. After Daily Bearish Choch, I will consider that the pullback is over and short set ups are more probable.Note
Buy Side Liquidation is taken. Strong bearish momentum after BSL and mitigating the daily extreme supply. 4H bearish choch indicates that pullback has started. 4H swing structure is still bullish but that might just be to mitigate daily supply.
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Trade expectation on 15m time frame
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.