This is my Intraday analysis on EURUSD for 8 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
- 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.
- 4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
- After iBOS we expect a pullback and the possible POI to maybe start the Pullback is the 4H Supply above the Swing EQ.
- But be mindful that we were ranging for a period of time and price just broke that range with momentum. Most probably we will have a deep pullback phase to the daily supply before we can initiate the 4H Bearish continuation phase.
- Keeping my bullish bias till i see solid evidence with 4H bearish break of structure to confirm the 4H Continuation phase is starting.
- Swing Bullish
- INT Bullish
- Swing/Internal Pullback Back Phase
2.
- Price continuing bullish with Bullish Swing BOS formation.
- We had reached the 4H supply and we’d fully mitigated it which could provide bearish pressure to initiate the 15m Swing Pullback.
- But be mindful that 15m Swing and 4H Internal Structures are solidly Bullish and we there is a HP we will continue up to mitigate the Daily/Weekly Supply.
- Still on my Bullish Bias. Shorts will be in play once we have confirmed 15m Bearish BOS. Risky shorts will be with 15m Bearish iBOS.
3.
- Swing Discount Zone and the last 15m/4H demand zone for potential reaction/longs when reached.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/M5w9NtlV-EURUSD-8-Mar-2024-W10-Intraday-Analysis-NFP-Day/
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