This is my Intraday analysis on EURUSD for 6 Feb 2024 W6 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bearish
  • OF Bearish
  • In Swing 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 4H/Daily demand zones as expected after breaking the range and formed a Bullish INT Structure iBOS.
  • This Bullish iBOS failed to continue Bullish and we changed to Bearish INT Structure which means that the Swing Pullback Phase is not over.
  • We are also within the 4H Swing Demand/Discount so keep in mind that at anytime the Swing Continuation could start.
  • More price development needed with the current PA.

3.

  • Bearish momentum still active with a Bearish iBOS.
  • With the current series of bearish INT Structures, there is a HP that the 4H Swing Low will go as there is no much demand zones and the current demand is in mitigation and every move up is just a sell opportunity.
  • After the iBOS we would expect a pullback. Price failed to close below the 4H Low which could be a sweep of LIQ. In order to confirm a Sweep, i need at least a Bullish CHoCH as reaction from the Swing Low otherwise we will take the Swing Low as per the HTF expectations.
  • I’ll be waiting 15m to align bullish to play the 4H iBOS pullback if possible. Other wise waiting for better Short opportunity from the 4H Supply at the INT High.
  • Lets wait for the LTF to guide us.

15m Chart Analysis

1.

  • Swing Bearish
  • INT Bearish
  • Waiting Pullback Phase

2.

  • Swing is Bearish and we are currently in the bearish momentum after the break.
  • Price reached the 4H Swing Low and the Daily INT Low and failed to close below (Just wicked micro pips below it). Could be a sweep of LIQ or just mitigation and continuation bearish. No HTF POI mitigation yet.
  • From a structure prospective, We are expecting a Pullback for the 15m Swing and the 4H INT Structure.
  • I’ll wait for the pullback phase after the 15m Bullish iBOS putting in consideration that there is a HP that we can create a Bearish 4H BOS and Daily iBOS. (Shorting the lows or after Break of Structure is not my edge)
  • Lets wait and see more price development.

3.

  • 15m INT Structure is bearish and we are in the continuation after the Swing BOS.
  • 4H Supply within this INT Structure is the only supply that could provide a Bearish continuation. But be mindful that we could start also the Swing Pullback at anytime.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/RY056k9P-EURUSD-6-Feb-2024-W6-Intraday-Analysis-EU-Retail-Sales/

I’m Amr

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