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EURUSD 22 Nov 2023 Intraday Analysis

This is my Intraday analysis on EURUSD for 22 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.
  • We did a CHoCH but it was only a Sweep of Liquidity and even the 15m didn’t close below the Structure.

3.

  • Price still in a Bullish momentum after the 4H BOS.
  • We didn’t mitigate the Daily/4H Supply yet but it did a CHoCH and confirmed INT High after the bullish iBOS.
  • Currently price in an INT Structure Pullback and most probably the 4H Demand will be a good area for Longs if there is conformation from LTF (15m)

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bearish

2.

  • As mentioned yesterday we were looking for a sign for the pullback and with the bearish iBOS we confirmed a Swing High and we are currently bearish to facilitate the Swing Pullback.
  • We didn’t mitigate the Daily Supply, but keep in mind that price doesn’t have to mitigate it before going down. Always follow the structure and what does it tells you and not to follow what you want price to do.
  • Most probably a pullback after the iBOS will be an opportunity for Shorts if we didn’t tap into discount or deep in the Swing Discount. If we are in a deep pullback then most probably will look for longs from the 4H Demand zone.

Nov 22, 2023

Comment:

15m Chart Update after the recent iBOS to the down side

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/5HsPxz0s-EURUSD-22-Nov-2023-Intraday-Analysis/

I’m Amr

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