This is my Intraday analysis on EURUSD for 28 Feb 2024 W9 based on Smart Money Concept (SMC) which includes the following Time Frames:
NOTE: Nothing changed again from yesterday, 4H no changes and 15m just created INT to INT Structure.
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
- 4H
- 15m
NOTE: Nothing changed again from yesterday, 4H no changes and 15m just created INT to INT Structure.
4H Chart Analysis
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 reached the 4H Supply as expected and showed solid reaction from there. This reaction is starting the Bullish INT Structure Pullback.
- We didn't do a Bearish CHoCH to confirm INT High yet. So, there is a probability that price could tap into the CHoCH.
- Also we tapped into a Daily Demand (Not a HP zone) which is currently containing price.
- As the 4H Swing is bearish, the Swing pullback could be done after reaching the 4H Supply, Bearish CHoCH will be the initial weak conformation and a Bearish iBOS will be the solid confirmation for that scenario.
- Other scenario is a deeper Swing Pullback and 4H INT will stay Bullish to facilitate that view.
15m Chart Analysis
1.
- Swing Bullish
- INT Bullish
- INT INT Bearish
- 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.
- Price reached the 4H Supply as expected and from there started the 15m INT Structure Pullback.
- We reached the INT Structure extreme and price started a bounce.
- Price created a Bullish CHoCH after ranging which indicates that the INT Pullback is over and expectation is to target the Weak INT High.
- With the ranging behavior of price we created INT to INT Structure which turned bearish and currently challenging to maybe targeting the INT Structure Pullback low (ii Low @ 1.0803).
