This is my Intraday analysis on EURUSD for 17 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
1.
Swing Bullish
INT Bearish
OF Bearish
In 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 Swing EQ/Discount, mitigating 4H/Daily demand zones and ranged.
- OF is bearish within the Swing Pullback phase signaling that we still looking for deeper pullback to the next Daily/4H Demand zones.
- Current targets will be the Daily/4H demand zones and we can wait for price development on LTF to see if we will resume the Bullish Swing or not.
3.
- Swing extreme demand for possible continuation to the upside.
1.
- Swing Bearish
- Internal Bearish
2.
- Finally we are out of the range where the Swing turned bearish signaling the expectation that if the Swing turned bearish then the 4H is having a deep pullback phase within the 4H Bullish Swing.
- After a BOS we expect a pullback phase to initiate and we will be looking for Bullish iBOS to confirm Swing Low and the initiation of the Swing pullback.
- I’ll be cautious that after range we were in the momentum will be aggressive and pullback may not happen directly and following the current INT structure will be the safe option.
3.
- INT structure is continuing bearish and i would expect the continuation bearish till we reach the Daily/4H Demand zone as current targets.
- No HP supply zone within the current INT structure as all are mitigated.
- I’ll be waiting for the next INT structure for Shorts if we didn’t reach the Daily/4H Demand zones first.
Jan 17
Comment:
Frankfort Open Update :
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/8CvCmmo6-EURUSD-17-Jan-2024-W3-Intraday-Analysis-US-Retail-EU-CPI/
