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EURUSD 16 Nov 2023 Intraday Analysis

This is my Intraday analysis on EURUSD for 15 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish

2.

  • Bullish Swing continuation happened as expected and we created a Bullish BOS.
  • After a BOS we are expecting a pullback and first sign will be a CHoCH. Currently the CHoCH is far away and i’m expecting price to create a higher CHoCH to initiate a sign that the pullback maybe starting.
  • We just formed IMO 1 demand zone within the Swing that it’s also a FLIP to the supply formed. So most probably if we reached that level we will have potential longs.

3.

  • After reaching the Daily/4H Supply, price started to show some reaction. Still there is no Fractal CHoCH to indicate that may be the Pullback is starting. So we may have another push to the upside to mitigate the 4H Supply up before we start the Swing Pullback.
  • If price didn’t create a new high, then we can look on the LTF to guide us for potential Pullback from the current Daily Zone.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bearish

2.

  • After a BOS we expect a pullback, with the Bearish iBOS, we confirmed 15m Swing High and the start of the Pullback.
  • Currently price in a series of bearish structures to facilitate the 15m Swing Pullback.
  • Following that bearish structure till we reach the Swing EQ or the INT Structure turns bullish to confirm that the pullback is over and we are in the Bullish Swing Continuation.

3.

  • Potential Supply zone for Shorts if we are continuing the Swing Pullback.

Nov 16, 2023

Comment:

Just for the records and accountability, i managed yesterday to take another short trade which currently i moved to BE and lets see if we can continue this 15m Swing Pullback to EQ.

15m Chart :

Nov 17, 2023

Comment:

This is update on the trade taken. It ended up BE on the Retail Sales news yesterday.

15m Chart:

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/DFTSSkHV-EURUSD-16-Nov-2023-Intraday-Analysis/

I’m Amr

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