XAU/USD 22 August 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation
Intraday expectation: Price to continue bearish pullback phase, react at M15 demand zone, perhaps as deep as H4 or D demand zone to then target weak internal high.
H4 Chart:
M15 Analysis:
Intraday expectation, analysis and bias remain the same as yesterday's analysis dated 21 August 2024
-> 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:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation
Intraday expectation: Price to continue bearish pullback phase, react at M15 demand zone, perhaps as deep as H4 or D demand zone to then target weak internal high.
H4 Chart:
M15 Analysis:
Intraday expectation, analysis and bias remain the same as yesterday's analysis dated 21 August 2024
-> 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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