This is my Intraday analysis on EURUSD for 23 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

Before i start my analysis, i want to share the current trade that i planned it in my analysis yesterday in regards to the buy opportunity from the 4H Demand.

Current trade is based on the idea of following the Bullish structure on 15m and 4H and as long the 15m Swing is bullish, i’ll be looking for longs from 4H demand.

This is the current long trade with SL now at BE as we reached the INT Bearish Structure Extreme Supply.

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish

2.

  • Swing low and last demand for potential buys.

3.

  • Following the bullish INT Structure, after the iBOS we pulled back to the structure extreme and mitigated the 4H demand.
  • Current expectation is to target the INT High. But be mindful that the Swing Pullback could happen at anytime and the current INT Bullish structure can fail to start the pullback.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bearish

2.

  • Price in bearish INT Structure to facilitate the 15m Bullish Swing pullback.
  • We reached the discount and almost the extreme and mitigated a fresh 4h demand zone.
  • Most probably if this Swing is going to hold bullish, we are expecting the INT structure to turn bullish and target the Swing High.

3.

  • Current INT Bearish structure extreme supply zone which could provide short opportunities to continue bearish. But be mindful that we reached the discount and mitigated the 4H Demand.

Nov 23, 2023

Comment:

This is an update on the current trade.

Price did reach the Bearish INT High and with the close of the 15m candle it fall to close above it and with a micro pip it swept liq. and also a fractal CHoCH on the 4H and could be used as Liq. for the down side. We don’t know yet and we need to wait to see the market movement to assess.

My Entry is secured at BE so nothing to lose. Will wait for Frankfort and London to open for more clues.

Also note that US Banks are on Holiday today so no much movement expected during NY.

Just wanted to share the update and wishing all the best of luck.

15m Chart :

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/wyQXaLxR-EURUSD-23-Nov-2023-Intraday-Analysis-EUR-PMI-US-Holiday/

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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