This is my Intraday analysis on EURUSD for 14 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

Before the analysis today, i want to mention that as per my analysis yesterday i was not interested in Shorting EURUSD, Instead i wanted to go long for the following reasons:

  1. We are in Pullback Phase on the daily.
  2. 4H Swing is Bullish and we may have finished the Swing Pullback and we are in the Swing continuation.
  3. 15m Swing is still bullish for me, so better to look for buys when price reaches some low POIs within the 15m Swing.
  4. As this is the CPI week for USD and market is waiting for this news. If the forecasts are showing lower numbers that means USD will be weak and there is a chance that EURUSD will run up. So if i can position myself with the structure and the anticipation of News prior to news day, and if news comes in my favor; i’ll be riding a nice run. If not, then nothing much to lose.

So i managed yesterday to position my self in and Long entry at 1.0673 based on the above knowing that i’m against the current INT Structure but in anticipation of maybe if price can hold the up side till news and news comes in my favor i can be holding a nice move.

Current screenshot from my trade.

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish
  • OF Bullish

2.

  • After a BOS we expect a pullback, As we did a CHoCH on the 4H and iBOS on the 15m the pullback started and tapped into a 4H Demand Zone.
  • Price had swept the Liq below the 4H zone and we could be now targeting the previous high formed.
  • Price is tapped into the 4H Supply zone and there is a probability of bearish move from there. But keep in mind that maybe the 4H Swing pullback is over and we are currently in Swing continuation.
  • Will let the LTF (15m) guide me for the move.

3.

  • 4H Demand zone could hold the price to continue up after sweeping liquidity on the left.

15m Chart Analysis

1.

S

  • wing Bullish
  • Internal Bearish
  • INT INT Bullish

2.

  • INT Structure is bearish and we reached the last part of the the supply zone on the left that was formed from the bearish iBOS.
  • Also after tapping into the 4H Supply, price reacted and formed bearish IN INT Structure but managed after to recover nicely which means that we still have a room to the upside.
  • What i’m looking for is to have a break of the current Strong Bullish INT High in order for us to continue up. Failure to do so, will result in a deep push to the down side containing that INT Structure bearish move and maybe a deep pullback on the 4H within the bullish 4H Swing Structure.

3.

  • The last unmitigated 15m Demand in this INT INT Structure to hold for possible continuation to the upside if we are going up.

Nov 14, 2023

Comment:

GDP and ZEW news came in favor of EUR today and my trade still running as positioning before US CPI today

Nov 14, 2023

Comment:

Trade is reached target

Nov 15, 2023

Comment:

This to document the trade result for reference.

youtu.be/IhoMIml9YTM

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/HiBMdR6r-EURUSD-14-Nov-2023-Intraday-Analysis-EUR-ZEW-GDP-USD-CPI-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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