Weekly XAUUSD analysis, 12 - 16 AUG 2024
- The price failed to take the previous high and shows a weak momentum.
We expect another bearish leg to the extreme demand to remove the LQ below.
D:
- The price is in extreme supply, the pullback phase now may be over.
We now expect a structure shift to the downside to take the weak INT low.
- Wait for the confirmation from LTF.
4H:
-The price reached the 4H supply with low momentum, we now expect a structure shift to facilitate the new 4H INT bearish leg.
15M OUT:
- We can follow the bullish OF and play longs.
We also can wait for the structure shift (This may not happen) Then play shorts to target the weak INT low.
15M IN:
We expect another bearish leg to the extreme demand to remove the LQ below.
D:
- The price is in extreme supply, the pullback phase now may be over.
We now expect a structure shift to the downside to take the weak INT low.
- Wait for the confirmation from LTF.
4H:
-The price reached the 4H supply with low momentum, we now expect a structure shift to facilitate the new 4H INT bearish leg.
15M OUT:
- We can follow the bullish OF and play longs.
We also can wait for the structure shift (This may not happen) Then play shorts to target the weak INT low.
15M IN:
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