This is my Weekly analysis on EURUSD for 16-20 Oct 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:
Weekly
1.
Daily
1.
2.
3.
Daily
1.
1.
2.
3.
4.
5.
- Weekly
- Daily
- 4H
Weekly
- Swing Bearish
- Internal Bearish
- Reached Swing EQ
- After the iBOS we expect pullback, price tapped into Liq and a demand zone which showed a nice reaction that the pullback of the internal bearish structure maybe starting but still the OF is bearish
- Potential flip supply zone to continue the INT bearish structure and Swing bearish leg
- But be mindful that the INT structure doesn't have IDM and the zone/CHoCH could be used as IDM and we will be in the Swing Discount
- Extreme supply within the bearish INT structure with Liq below it. A potential zone located in the Swing premium for continuation down
Daily
- Swing Bearish
- INT Bearish
2.
- After BOS we expect a pullback
- CHoCH will be the first sign of maybe pullback is starting and yesterday price did a CHoCH confirming INT Low formation.
- OF still bearish so we don't have confirmation yet that we are starting the pullback for the recent Bearish BOS
3.
- As on the weekly, price swept Liq and tapped in a weekly demand zone but we didn't mitigate the daily demand zone below
Daily
- Swing Bullish
- INT Bearish
1.
- Swing Bullish
- INT Bearish
2.
- Price swept Liq from the previous INT low and broken and closed above the high forming another iBOS
3.
- Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback
- As price turned bearish, and reached EQ, our expectations now that Demand zones in Discount will provide a good opportunity for longs
4.
- Daily and 4H Supply zone that current price action is targeting and could provide reaction for shorts opportunity using Entry Model with LTF confirmation
5.
- Price could be targeting the Liq. below the 4H previous INT Low above the 4H extreme demand zone for longs
