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
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.