HTF develop as expected, after monthly liquidation, price again respect the monthly supply and showing some bearish intention. In weekly TF, we mentioned there is a FR happened (D2S Flip) although we are still in bullish OF. The flip was the first sign of weaknesses and now price respecting the weekly D2S, showing a bearish intention.
From 4H view, we can see price is now in bullish OF. However, price take out LQ from the left that created during the corrective downward move and immediately give a 4H bearish CHoCH. The low is probably weak now. Although there is a 15m unmitigated demand below, price could get some reaction from there but might not be able to continue the 4H bullish OF as HTF is showing bearish intention.
From 4H view, we can see price is now in bullish OF. However, price take out LQ from the left that created during the corrective downward move and immediately give a 4H bearish CHoCH. The low is probably weak now. Although there is a 15m unmitigated demand below, price could get some reaction from there but might not be able to continue the 4H bullish OF as HTF is showing bearish intention.