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EURUSD 31 Oct 2023 Intraday Analysis

This is my Intraday analysis on EURUSD for 31 Oct 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis

1.

  • Bullish Swing
  • Bullish INT

2.

  • Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback and a CHoCH is the first sign that the Swing pullback maybe starting.
  • Price pulled back to almost to the swing extreme and we would expect the 4H swing low to hold and we will target the weak Swing High.

3.

  • 4H Demand zone could hold the price to continue up but the Liq is below it so not a high probability zone.

4.

  • 4H extreme demand is the last zone for price to mitigate if it failed at current price to continue up.
  • This is the last option for longs for the current bullish swing.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bullish

2.

  • After the 15m BOS, we are expecting a Swing pullback, with a bearish iBOS we confirmed the Swing High and the Swing pullback started.
  • We reached EQ and 4H demand for high probability bullish continuation.
  • Internal Structure turned bullish to conform the Swing pullback is over and we are going to continue bullish to target the weak swing high.

3.

  • 15m and 4H Demand zone that can provide a potential continuation to the up side if it’s going to hold.

Oct 31, 2023

Comment:

End of month trade

snapshot

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/C9zcdWo4-EURUSD-31-Oct-2023-Intraday-Analysis/

I’m Amr

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