This is my Intraday analysis on EURUSD for 6 Feb 2024 W6 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
3.
- 4H
- 15m
4H Chart Analysis
1.
- Swing Bullish
- INT Bearish
- OF Bearish
- In Swing Discount
2.
- Price made a bullish BOS and after a BOS we expect a pullback.
- After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH.
- Price reached the 4H/Daily demand zones as expected after breaking the range and formed a Bullish INT Structure iBOS.
- This Bullish iBOS failed to continue Bullish and we changed to Bearish INT Structure which means that the Swing Pullback Phase is not over.
- We are also within the 4H Swing Demand/Discount so keep in mind that at anytime the Swing Continuation could start.
- More price development needed with the current PA.
3.
- Bearish momentum still active with a Bearish iBOS.
- With the current series of bearish INT Structures, there is a HP that the 4H Swing Low will go as there is no much demand zones and the current demand is in mitigation and every move up is just a sell opportunity.
- After the iBOS we would expect a pullback. Price failed to close below the 4H Low which could be a sweep of LIQ. In order to confirm a Sweep, i need at least a Bullish CHoCH as reaction from the Swing Low otherwise we will take the Swing Low as per the HTF expectations.
- I'll be waiting 15m to align bullish to play the 4H iBOS pullback if possible. Other wise waiting for better Short opportunity from the 4H Supply at the INT High.
- Lets wait for the LTF to guide us.
15m Chart Analysis
1.
- Swing Bearish
- INT Bearish
- Waiting Pullback Phase
2.
- Swing is Bearish and we are currently in the bearish momentum after the break.
- Price reached the 4H Swing Low and the Daily INT Low and failed to close below (Just wicked micro pips below it). Could be a sweep of LIQ or just mitigation and continuation bearish. No HTF POI mitigation yet.
- From a structure prospective, We are expecting a Pullback for the 15m Swing and the 4H INT Structure.
- I'll wait for the pullback phase after the 15m Bullish iBOS putting in consideration that there is a HP that we can create a Bearish 4H BOS and Daily iBOS. (Shorting the lows or after Break of Structure is not my edge)
- Lets wait and see more price development.
3.
- 15m INT Structure is bearish and we are in the continuation after the Swing BOS.
- 4H Supply within this INT Structure is the only supply that could provide a Bearish continuation. But be mindful that we could start also the Swing Pullback at anytime.
