This is my Intraday analysis on EURUSD for 17 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
3.
- 4H
- 15m
4H Chart Analysis
1.
- Swing Bearish
- Internal Bearish
- Pullback Phase
2.
- Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.
3.
- After a BOS we expect a Pullback. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
- Possibly that PB Phase could start at anytime with at least a Bullish CHoCH but preferably mitigating a HP POI.
- Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.
15m Chart Analysis
1.
- Swing Bearish
- Internal Bullish
- Swing Pullback Phase
2.
- After BOS we expected a pullback. INT Structure turned Bullish to initiate the 15m Swing Pullback.
3.
- As price reached the 15m Swing Premium and mitigated the 1H/15m Supply, Price initiated the Swing Bearish continuation and INT Structure Pullback.
- Price reached the Swing Low and failed to break. So current PA is ranging.
- I'll wait for Bullish BOS to confirm that the 4H Swing PB started instead of following the Shorts which could end at anytime.
