XAU/USD 02 Feb 2024 Intraday Analysis
H4:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish.
Price has again to reacted to Daily and H4 nested supply levels where we saw a reaction. Price wicked above high of internal structure but failed to close.
Expectation remains as yesterday's analysis, for price to continue to trade bearish to target weak internal low.
H4 chart:
M15:
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-Internal: Bullish
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Price has printed a bullish iBOS where we are now in the pullback phase.
Sub-structure to internal structure, which is marked in red where price has now printed a double bullish iiBOS.
Internal structure has now switched bullish, therefore, price is expected to pull back.
Expectation is for price to target weak internal high once pullback is complete.
M15 Chart:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish.
Price has again to reacted to Daily and H4 nested supply levels where we saw a reaction. Price wicked above high of internal structure but failed to close.
Expectation remains as yesterday's analysis, for price to continue to trade bearish to target weak internal low.
H4 chart:
M15:
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-Internal: Bullish
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Price has printed a bullish iBOS where we are now in the pullback phase.
Sub-structure to internal structure, which is marked in red where price has now printed a double bullish iiBOS.
Internal structure has now switched bullish, therefore, price is expected to pull back.
Expectation is for price to target weak internal high once pullback is complete.
M15 Chart:
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