This is my Intraday analysis on EURUSD for 14 Feb 2024 W7 based on Smart Money Concept (SMC) which includes the following Time Frames:
- Daily
- 4H
- 15m
- Swing Bearish
- INT Bearish
2.
- Within the Bearish Swing we are currently in the Swing pullback reached the Swing extreme area and mitigated a Weekly Supply zone (But didn’t reach the Daily Supply) and started the INT Structure Pullback after the Bullish iBOS.
- For the Bearish Swing to continue bearish, we want to see a Bearish iBOS to confirm that the Swing Pullback is over and we are in the Swing Continuation to target the Weak Swing Low.
- Price confirmed a Bearish iBOS yesterday and this signals the Swing continuation phase.
3.
- After the iBOS we expect a Pullback.
- Price is currently within the Daily demand on the left which is partially mitigated and approaching a Weekly Demand Zone which could provide reaction to facilitate the Bearish INT Structure Pullback.
4.
- Daily and Weekly demand zones for reactions once reached.
- Swing Bearish
- INT Bearish
- OF Bearish
2.
- Swing formed Bearish iBOS signaling that the Daily Bearish Swing Pullback Phase is over and we are currently in the Daily Bearish continuation phase.
3.
- After a BOS we expect a Swing Pullback.
- Internal Structure is also Bearish with iBOS, So 4H Swing and INT are expecting a pullback which could start at anytime from the current Daily Demand which is partially mitigated and we are below that mitigation or from the 4H Demand nested within the Daily Demand.
- A Bullish CHoCH will confirm the INT Low and may start he INT Structure Pullback.
- But be mindful that we the Bearish momentum we are in, Price can continue Bearish with minor Pullbacks.
- Current CHoCH is high for price to reach so i’m expecting price to create a new low first before we start the INT Pullback.
- Bullish iBOS will signal a Swing Pullback.
- Swing Bearish
- INT Bearish
2.
- Previous Swing Pullback ended with the Bearish iBOS and price created another Bearish iBOS with the CPI news yesterday which created a Bearish BOS.
3.
- After a BOS we expect a Swing Pullback.
- Price currently approaching a 4H Demand Zone that can provide reaction for the Pullback.
- Most probably i’ll wait for a Bullish iBOS to signal the Swing Pullback.