This is my Intraday analysis on EURUSD for 7 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
1.
- Swing Bullish
- INT Bearish
- Reached EQ
2.
- Price had created a Bearish INT Structure and it could be targeting the 4H Demand within the Swing extreme.
- Currently price is in Swing pullback phase and the Bullish continuation could start at anytime from the Swing Discount. It’s preferred to mitigate a Demand zone to give more confidence.
- Will be waiting for LTF (15m) to support the decision with bullish structure formation.
3.
- Swing low and last demand for potential buys.
1.
- Swing Bearish
- Internal Bearish
2.
- Price still in a series of bearish structures (Swing/Internal) as we didn’t mitigate yet any HTF POI.
- We formed Swing Low yesterday after a Bullish iBOS but it didn’t hold for a pullback phase.
- My expectations is price may continue down to a HTF POI and we can see after a change to a bullish structure to confirm that the 4H Swing pullback is over and we may continue the Bullish Swing.
- Currently Shorts is the play with the current Bearish Swing from Supply zones that are well positioned in Premium.
- For Longs, i’ll wait for the mitigation of a HTF Demand zone or the 15m Swing/Internal turn bullish.
Dec 7, 2023
Comment:
This is the long trade I took yesterday which ended in Loss.
It was based on the idea of a pullback with the confluence of DXY but it didn’t work as expected. Trade closed after closing below the Structure (Swing Low) which invalidates the long idea.
15m Chart:
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/uHSpEHxI-EURUSD-7-Dec-2023-Intraday-Analysis-EUR-GDP-US-Jobless-Claims/
