This is my Intraday analysis on EURUSD for 31 Oct 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
1.
- Bullish Swing
- Bullish INT
2.
- Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback and a CHoCH is the first sign that the Swing pullback maybe starting.
- Price pulled back to almost to the swing extreme and we would expect the 4H swing low to hold and we will target the weak Swing High.
3.
- 4H Demand zone could hold the price to continue up but the Liq is below it so not a high probability zone.
4.
- 4H extreme demand is the last zone for price to mitigate if it failed at current price to continue up.
- This is the last option for longs for the current bullish swing.
1.
- Swing Bullish
- Internal Bullish
2.
- After the 15m BOS, we are expecting a Swing pullback, with a bearish iBOS we confirmed the Swing High and the Swing pullback started.
- We reached EQ and 4H demand for high probability bullish continuation.
- Internal Structure turned bullish to conform the Swing pullback is over and we are going to continue bullish to target the weak swing high.
3.
- 15m and 4H Demand zone that can provide a potential continuation to the up side if it’s going to hold.
Oct 31, 2023
Comment:
End of month trade
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/C9zcdWo4-EURUSD-31-Oct-2023-Intraday-Analysis/