This is my Intraday analysis on EURUSD for 29 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
1.
- Swing Bullish
- INT Bullish
2.
- Swing low and last demand for potential buys.
3.
- After the Swing BOS, we expected a pullback but price still in Bullish momentum and still creating Bullish INT Structures. We didn’t have Swing pullback till now which will be identified by a Bearish iBOS.
- Price did another Bullish iBOS and reached a 4H Supply and mitigating a Daily Supply. We are expecting a pullback for the INT Structure and the first sign will be a bearish fractal CHoCH which will be the 15m Bearish iBOS.
- Be mindful that the Bullish momentum is so strong and shorts wouldn’t be a smooth ride, So patience is always the key of success! plan and wait for confirmation.
1.
- Swing Bullish
- Internal Bullish
2.
- As expected, price created another Bullish BOS following the Bullish momentum. After a BOS we expect a Swing Pullback.
- The first sign that the pullback maybe starting is a Bearish Fractal CHoCH. But as we formed INT Structures after the BOS, then we will wait for INT Structure to turn bearish first to:
1- Confirm a Swing High
2- Confirm that the pullback is starting - Be Mindful that the Bullish momentum is strong and shorts will not be a smooth ride.
3.
- Price is currently mitigating a 4H and Daily Supply Zones.
- Pullback could start from here, but as we identified in the previous point that we need a confirmation with a Bearish iBOS.
- Longs are currently the only play from the INT Demand areas after confirmation till INT Lows fails and we get the bearish iBOS.
Nov 29, 2023
Comment:
15m Chart for Frankfort Open:
Nov 29, 2023
Comment:
15m Chart for London Open: Watch the 4H Fractal CHoCH as it’s the current Liquidity price is looking to take
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/up2qf9j0-EURUSD-29-Nov-2023-Intraday-Analysis-EU-CPI-US-GDP-Bailey/
