This is my Intraday analysis on EURUSD for 18 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
Swing 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.
As expected the PB started after the Bullish CHoCH forming a new Demand Zone and confirming the Bearish INT Structure Low.
Expectations is set for continuing Bullish till a HP POI.
4.
4H Supply zone for possible reactions. But note that it's not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
15m Chart Analysis
1.
Swing Bullish
Internal Bullish
Swing Pullback Phase
2.
As expected, price created a Bullish BOS based on the 4H/Daily need for a Pullback.
After a BOS we expect a PB. As INT structure is Bullish, a Bearish iBOS will be the confirmation that the 15m Swing PB is starting. But be mindful that price in a Bullish momentum and a deep Swing PB is not often happen on the start of the move.
Following the Bullish Phase we are in, looking for longs is the best option till the mitigation of the close 4H Supply zone.
3.
Extreme Demand zone within the 15m Swing for possible Longs if reached.
But be mindful if we reached this Demand, PA is not looking in Bullish momentum and there will be a HP that the Swing low will be run.