The wave structure of gold in the 15M time frame is analyzed using the SMC method
At frame 15M, the price broke through the Swinglow, creating a BOS signal and shifting to a downtrend.
In the 4h frame, the price broke the i-Low bottom, creating a CHOCH signal
Wait for the price to increase back to the OB block in the 4h time frame, then wait for 15M to have a CHOCH signal so we can sell down.
SH: Swing High
SL: Swing Low
i-Low: Internal Low
i-High: Internal High
i-BOS: Internal BOS
At frame 15M, the price broke through the Swinglow, creating a BOS signal and shifting to a downtrend.
In the 4h frame, the price broke the i-Low bottom, creating a CHOCH signal
Wait for the price to increase back to the OB block in the 4h time frame, then wait for 15M to have a CHOCH signal so we can sell down.
SH: Swing High
SL: Swing Low
i-Low: Internal Low
i-High: Internal High
i-BOS: Internal BOS
Note
Gold did not increase again but continued to decrease and broke the bottom so Swinghigh 15M remained unchanged.Note
The price decreased as planned but could not break the peak of 15M, but only mitiger at the peak of 15MNote
After the price dropped to the strong Swinglow bottom of 15M, the price increased again to surpass the strong Swinghigh of 1M, starting the pullback phase of 15M.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.