I also have deep set eyes and have a few techniques you can try. If you like the look of a smokey eye but don't want your eye to recede too much concentrate the darkest color just at the lash line and fade up. I like to use a pencil to get a really dark shade at my lash and then use shadows over it to blend. Avoid carving out your crease with a deeper shade--this will enhance the depth of your eye.
I love to have very defined eyes--fake lashes are a great way to make your eye pop without using too much shadow. Just line your eye at the top and glue the lash on top--this look will also make your eyes appear bigger. If you like a natural look try Make Up For Ever #156. They have a denser outer edge which can elongate your eye.
I also love the Sephora style lashes in Elegant. They are a little more dramatic but very pretty and eye opening.
Hi! For deep set eyes, apply an eyeshadow that is a few shades lighter than your skintone in the inner corner corner of the eyes. On the lid, either apply the same lighter color for a natural look, or apply a color light a brown, gold or pink (or another color that brings out your eyes), anything that is not very dark. In the crease, either apply a light brown shade or nothing at all (since your eye shape doesn't really need the extra definition), and then on the browbone, apply a shade that is exactly your skintone-so a few shades darker than the color in the inner corner of your eyes. Hope this helps!
For deep set eyes you want to concentrate and the eye lid and eye brow highlight. Use a lighter color to apply on the lid and under the brow. Make sure that you use a very soft color for the crease area. You want to make sure that you avoid using a very dark color in the crease. Using a highlighting color on your lid and under the brow will draw light to those areas. I like the Kat Von D True Romance Eyeshadow Palette - Saint to create endless natural looks. Use the first 4 shades to as a highlighter or lid color. The remaining shades can be used in the crease.
I hope that this helps!