As we can in a weekly timeframe we are bearish. On a daily - bullish.
After price touched weekly order block (1W OB) strong drop took place and broke 4h market structure.
In ideal scenario we can wait till HL (daily) will be broken but I see good opportunity to go long when price will reach 4H OB. However, I see some liquidity (LQD) just below 4H OB so I decided to get to lower time frame to see is there any other order block that can work out for me, and I found 1H OB that is below 4H OB. That is my point of interest for long move.
I will enter long only after 5 min or even 1 min bullish break of structure. Why my conformation is in so low timeframe? Because its extreme discount level. Reverse will be very fast.
Good luck:)
After price touched weekly order block (1W OB) strong drop took place and broke 4h market structure.
In ideal scenario we can wait till HL (daily) will be broken but I see good opportunity to go long when price will reach 4H OB. However, I see some liquidity (LQD) just below 4H OB so I decided to get to lower time frame to see is there any other order block that can work out for me, and I found 1H OB that is below 4H OB. That is my point of interest for long move.
I will enter long only after 5 min or even 1 min bullish break of structure. Why my conformation is in so low timeframe? Because its extreme discount level. Reverse will be very fast.
Good luck:)