This is my Intraday analysis on EURUSD for 1 Feb 2024 W5 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 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.

  • As the INT Structure turned Bearish, we resumed again the Swing Pullback which in my opinion going to target the Swing Low.
  • After iBOS we expect a Pullback, CHoCH is the first sign that the INT Structure Pullback is starting.
  • Price made a ChoCH yesterday confirming the INT Low and a Sweep of Liq to continue the bearish INT Structure.
  • Currently we are going to take this INT Low and there is a high probability that the Swing Low is the target after.

15m Chart Analysis


1.

  • Swing Bearish
  • INT Bearish

2.

  • Swing is Bearish after mitigating a HTF Supply.
  • After a BOS we expect a pullback, INT structure turned Bullish to facilitate the Swing Pullback where we reached the EQ.
  • With the news yesterday price Swept Liq above the Strong Swing High and the 4H CHoCH to resume the move to the down side targeting the 15m Weak Swing Low.
  • Most probably this Swing Low will be broken.

3.

  • Currently price is in Bearish INT Structure and expectation that we will break the Swing Low.
  • Just be mindful that Shorts now are not preferred as we are at the end of the move.
  • Will wait to see if there is option for Pullback plays after the BOS or hold my hands this week for better opportunities next week.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/EV81px8I-EURUSD-1-Feb-2024-W5-Intraday-Analysis-EU-CPI-US-PMI-Jobs/

I’m Amr

Passionate about the art of trading, I embark on a journey documenting experiences, insights, and growth, where every entry is a step in my journey. Step into my world where dedication meets strategy.

Let’s connect

June 2024
S M T W T F S
 1
2345678
9101112131415
16171819202122
23242526272829
30  

ADP AUDUSD BTC Consumer Confidence CPI CPI Revisions Durable Goods DXY ECB ECB Meeting Minutes education EUR EURUSD FOMC GBPUSD GDP GOLD Home Sales Housing HTF IFO Industrial Production Interest Rate Intraday Jobless Claims Liquidity LTF Markups NASDAQ NFP PCE PMI Powell PPI Retail Sales Safe Haven Smart Money Concept SMC Structure Trade Balance USD USDJPY Weekly XAUUSD ZEW