This is my Intraday analysis on EURUSD for 1 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis


1.

  • Bullish Swing
  • Bearish INT

2.

  • The Swing continuation moved stopped at the 4H Supply yesterday and created a fresh Supply zone after the bearish CHoCH.
  • If the low that started the Swing Continuation move failed to break the Swing high then there is a high probability that it will be targeted.
  • Buys still the theme within this swing but the liquidity formation above the extreme demand zone is maybe the target now to continue up.
  • Breaking Swing Low will invalidate this Bullish structure and we will be in daily bearish continuation.

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 Bearish

2.

  • INT Structure turned bearish after the iBOS and this 15m Flip Zone could provide an opportunity for Shorts.
  • Be mindful that the 15m/4H swings are Bullish and we are expecting to target the Swing Highs. But as price turned bearish aggressively yesterday, standing aside till INT structure allign with Swing will be my approach till end of the week.

3.

  • 15m and 4H Demand zone that can facilitate the pullback for the bearish INT Structure.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/wOKaEfSm-EURUSD-1-Nov-2023-Intraday-Analysis-ADP-FOMC-Day/

I’m Amr

Passionate about the art of trading, I embark on a journey documenting experiences, insights, and growth, where every entry is a step in my journey. Step into my world where dedication meets strategy.

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