XAU/USD 21 August 2024 Intraday Analysis
H4 Analysis:
Analysis/Intraday expectation to remain the same as analysis dated 18 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Bearish CHoCH positioning is denoted with a blue dotted line.
H4 demand zone is positioned the same as bearish CHoCH positioning.
Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Previous Intraday expectation was met and price has printed a bullish iBOS.
Price has printed bearish CHoCH to indicate bearish pullback phase initiation.
Internal structure has been established and price reacted at discount of 50% EQ, however, price has also failed, as yet, to target weak internal high, therefore, price could potentially be seeking further liquidity and could be targeting M15 demand zone.
Intraday expectation: Technically price should target weak internal high but thus far has failed, therefore, price is perhaps seeking further liquidity (M15 demand zone) to fuel. bullish continuation.
Alternative scenario: We need to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted.
M15 Chart:
Analysis/Intraday expectation to remain the same as analysis dated 18 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Bearish CHoCH positioning is denoted with a blue dotted line.
H4 demand zone is positioned the same as bearish CHoCH positioning.
Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Previous Intraday expectation was met and price has printed a bullish iBOS.
Price has printed bearish CHoCH to indicate bearish pullback phase initiation.
Internal structure has been established and price reacted at discount of 50% EQ, however, price has also failed, as yet, to target weak internal high, therefore, price could potentially be seeking further liquidity and could be targeting M15 demand zone.
Intraday expectation: Technically price should target weak internal high but thus far has failed, therefore, price is perhaps seeking further liquidity (M15 demand zone) to fuel. bullish continuation.
Alternative scenario: We need to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted.
M15 Chart:
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