This is my Intraday analysis on EURUSD for 16 Feb 2024 W7 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
- Swing Bearish
- INT Bearish
- INT 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.
- Also be mindful that there is also a pullback required for the 4H Swing so there is a HP if price going to stay bullish we will take the Strong INT High.
- Bullish iBOS will signal a Swing Pullback.
- Swing Bearish
- INT Bullish
- Swing / INT Pullback Phase
- Swing Extreme
2.
- Price reached the last Supply and Extreme of the 15m Swing / 4H Supply and initiated the Bullish INT Structure Pullback after.
- As the Swing is Bearish, expectations is set to continue Bearish. INT to turn bearish will be the signal that the Swing Pullback is over.
- But also be mindful that the 4H Swing Pullback still required so there is a HP that we may take the 15m Swing High.
3.
- 15m/4H Demand zones that can provide only reaction and not a buy opportunity.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/HrssnakU-EURUSD-16-Feb-2024-W7-Intraday-Analysis-US-PPI/