This is my Intraday analysis on EURUSD for 9 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.
  • As per previous days analysis, i was waiting to see at least a bullish CHoCH in order to see a possibility of a Pullback of the 4H Bearish iBOS and the 4H Still Holding. We had formed this Bullish CHoCH yesterday and according to that we formed a fresh demand zone that could have the potential to provide a deeper pullback to the 4H iBOS and maybe the continuation on the 4H Bullish Swing.
  • And as i was waiting for the 15m to align bullish to play the 4H iBOS pullback if possible. The 15m aligned with the 4H expectations and we initialized the Pullback Phase for the 4H Bearish iBOS and the 15m Bearish Swing.

15m Chart Analysis

1.

  • Swing Bearish
  • INT Bearish
  • Pullback Phase

2.

  • INT Structure turned Bullish with iBOS confirming that the 15m Swing Pullback started as expected and we may have a deeper pullback.
  • After the Bullish iBOS we initiated the pullback of the INT Structure and reached the 4H Demand and we directly bounced back up.
  • We reached the 4H Supply where price is currently reacting.

3.

  • Mitigation of the 4H demand formed a 15m Demand. Not a HP demand for longs but it will provide a reaction if reached.
  • Wouldn’t be much convinced to long from this demand again as i’m expecting the orders taken already from the 4H are enough to continue up and reach the Weak INT High.
  • If price reached that deep to this demand, my expectations that we will have a HP move to break the 15m Weak Swing Low.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/XOlSk600-EURUSD-9-Feb-2024-W6-Intraday-Analysis-US-CPI-Revisions/

I’m Amr

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