This is my Intraday analysis on EURUSD for 5 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
Note: Nothing changed since yesterday except 15m Sub INT turned Bullish aligning with 15m INT and Swing Bullish
4H Chart Analysis
- Swing Bearish
- INT Bullish
- Swing Pullback Phase
2.
- After a BOS and iBOS we expect a Pullback.
- As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
- Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
- Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
3.
- After Bullish iBOS confirming Swing Pullback Phase started, We are expecting INT Pullback.
- Price reached the 4H Supply as expected and showed solid reaction from there. This reaction is starting the Bullish INT Structure Pullback.
- We didn’t do a Bearish CHoCH to confirm INT High yet. So, there is a probability that price could tap into the CHoCH.
- Also we tapped into a Daily Demand (Not a HP zone) which is currently containing price.
- As the 4H Swing is bearish, the Swing pullback could be over after reaching the 4H Supply, Bearish CHoCH will be the initial weak conformation and a Bearish iBOS will be the solid confirmation for that scenario.
- Other scenario is a deeper Swing Pullback and 4H INT will stay Bullish to facilitate that view.
- Swing Bullish
- INT Bullish
- INT INT Bullish
- INT Continuation Phase
2.
- Swing turned bullish to facilitate the 4H Swing Pullback.
- INT Structure still holding bullish adding to the expectation that the 4H Pullback is going to be deeper which will require the 15m to stay bullish.
3.
- As we had a long period ranging within the INT Structure. We had formed Sub Internal Structure which is currently bearish.
- The Sub Internal Structure failed to continue bearish several times and there is a High Probability that we are currently targeting the Sub Structure High (Green Line) to continue the Bullish INT Structure and target the Weak INT High.
- Overall price is ranging and no momentum in the market.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/ax9of8BD-EURUSD-5-Mar-2024-W10-Intraday-Analysis-EU-PMI-PPI-US-PMI/
Related Posts
