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EURUSD 29 Jan 2024 W5 – Intraday Analysis

This is my Intraday analysis on EURUSD for 29 Jan 2024 W5 based on Smart Money Concept (SMC) which includes the following Time Frames:

4H
15m


4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish
  • OF Bullish
  • 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 demand zones and ranged.
  • Price reached the 4H/Daily demand zones as expected after breaking the range and formed a Bullish INT Structure iBOS.
  • This Bullish iBOS indicates that the 4H Swing Pullback had finished and we are starting the 4H Bullish Swing Continuation Phase to target the Weak 4H Swing High.

3.

  • Bullish INT Structure after mitigating the 4H/Daily demand Zones.
  • As we are starting the Swing Continuation Phase, this INT Structure Low is the last structure point to hold for the 4H Swing Continuation Phase.
  • If it failed, there is a high probability that we will target the 4H Swing Low.

15m Chart Analysis

1.

  • Swing Bearish
  • INT Bullish
  • Reached EQ

2.

  • Swing turned Bearish after failing at HTF Supply.
  • After a BOS we expect a pullback, INT structure turned Bullish to facilitate the Swing Pullback where we reached the EQ and mitigated the 4H Supply.
  • Expectation that we are going to target the 15m Weak Swing Low but be mindful that we are currently in Bullish INT Structure and the 4H Demand formed after sweeping the LIQ below the 4H Strong INT Low.
  • Wouldn’t be much convinced to Short in a 4H Demand Zone. So waiting for more price development.

3.

  • We are currently in Pullback Phase of the Bullish INT Structure and mitigating the 4H Demand Zone.
  • With Swing is Bearish and INT Bullish and we are in Swing Discount, it makes it tough for me to prefer a trade. I’d prefer a new structure after the BOS down or iBOS up.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/y0ZDsCHr-EURUSD-29-Jan-2024-W5-Intraday-Analysis/

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