This is my Intraday analysis on EURUSD for 21 Feb 2024 W8 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
1.
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 managed to tap into the previous Bearish INT Structure range which acted as a Sell to Buy Range (Demand Range) and price bounced and imo in the direction to target the 4H Supply Zones.
- Still Bullish momentum of the pullback is intact and continuation up to 4H Bearish Swing EQ is a HP.
- Swing Bullish
- INT Bullish
- INT Continuation Phase
2.
- Swing turned bullish to facilitate the 4H Swing Pullback.
- After BOS we expect a pullback. No HTF POI price tapped into yet to start the pullback.
- Most probably price will continue bullish till the 4H Supply zone.
- Bearish iBOS will confirm 15m Swing High and Start of Swing Pullback.
- Continuing my bullish Bias on EURUSD till we reach the 4H Swing EQ/HP Supply zones.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/xbmU309B-EURUSD-22-Feb-2024-W8-Intraday-Analysis-EU-CPI-US-Jobless/