GOLDgold analysis
Time frame of 4 hours
Considering that the 4-hour time frame of gold is still bullish, you can look for buying deals when the price reaches the specified area.
Goldupdate
XAU/USD 01 November 2024 Intraday AnalysisH4 Analysis:
Analysis/bias remains the same as yesterday's analysis dated 31 October 2024
-> Swing: Bullish.
-> Internal: Bullish.
Gold’s rally persists, driven by the Fed’s dovish stance and heightened geopolitical tensions, strengthening its safe-haven appeal.
Price has recently printed higher highs, bringing CHoCH positioning significantly closer to current price level. A bearish CHoCH has printed, signaling the first indication, though not a confirmation, of a potential bearish pullback phase initiation.
Price is now trading within an established internal range.
Intraday Expectation: Price is expected to continue bearish, potentially reacting at the H4 demand zone or the discount of the H4 internal 50% EQ before targeting the weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation from 31 October 2024 was met as price targeted weak internal low, printing another bearish iBOS.
CHoCH positioning is still quite distant from current price. To confirm the internal structure, I would like to see price move up to the 50% internal EQ level.
Intraday Expectation: I will remain on standby and wait for price action that allows me to confirm the internal structure.
Note: Price continues to be highly volatile due to ongoing geopolitical tensions and the Fed’s dovish stance.
M15 Chart:
XAU/USD 24 October 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Driven by the Fed's dovish stance and escalating geopolitical tensions, gold, as a safe-haven asset, has continued its upward surge.
Price has printed a bearish Change of Character (CHoCH), signaling but not confirming the initiation of a bearish pullback phase.
Intraday Expectation: While there are no clear signs of a pullback yet, price is expected to react at either the 50% equilibrium (EQ) or H4 demand zone before targeting the weak internal high. I'll remain on standby for further developments.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was not met, as price failed to target the weak internal high and instead printed a bearish Internal Break of Structure (iBOS). This aligns with the H4 timeframe being in a pullback phase.
As previously highlighted, price remains highly volatile, driven by ongoing geopolitical tensions and the Fed's softer stance.
Price has since printed a bullish Change of Character (CHoCH), suggesting but not confirming the initiation of a bullish pullback phase. Currently, price is trading within a well-established internal range.
Intraday Expectation: Price is reacting around the 50% equilibrium of the internal range and may also respond to nested H4 and M15 supply levels before targeting the weak internal low.
M15 Chart:
XAU/USD 21 October 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Analysis and bias remain unchanged from yesterday's analysis dated 20 October 2024.
Price has printed both a bullish iBOS and a subsequent BOS.
Driven by the Fed's dovish stance and escalating geopolitical tensions, gold, as a safe-haven asset, has continued its upward surge.
The swing low has been brought significantly closer. A break of this swing low would confirm the initiation of a pullback phase across all higher timeframes (HTFs).
Following the BOS and iBOS, we expect a pullback. The first indication, but not confirmation, would be price printing a bearish CHoCH, denoted by a blue dotted line.
At this stage, there are no signs of a pullback, so price could continue higher to bring CHoCH positioning closer to current price action.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has continued to surge, driven by a softer stance from the Fed and increasing geopolitical tensions.
Since the last analysis, price has printed a BOS followed by a series of bullish iBOS’.
The internal range of iBOS has narrowed, with price now targeting the weak internal high after reacting from the M15 demand zone.
Intraday Expectation: Price is expected to target the weak internal high.
M15 Chart:
Gold Update: Gold Reaches a Crucial ZoneGold has reached a significant price zone, capturing the attention of both traders and investors. Retail traders are leaning toward short positions, yet the price continues to spike higher, hitting new highs almost weekly. After several weeks of fluctuations, gold now sits at a critical inflection point. Below are the key resistance and support levels to watch:
Resistance Levels:
R1: 2718
R2: 2730
R3: 2760
R4: 2781
Support Levels:
COG : 2651
S1: 2698-2685
S2: 2665
S3: 2635
S4: 2618
What’s Next for Gold?
While gold is currently in a bullish trend, the 2700-2730 range presents a strong psychological resistance. I anticipate some downside correction before the bullish momentum resumes, with a potential pullback toward the 2635-2618 zone.
Conclusion
Gold is at a crucial juncture, and these resistance and support levels will likely dictate the near-term price action. A correction from the 2700-2730 range could set the stage for higher prices, assuming support holds.
Share your thoughts in the comments, and don’t forget to boost this post if you agree with my analysis.
XAU/USD 15 October 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Analysis/Bias remains the same as analysis dated 13 October 2024.
As mentioned in my analysis dated 09 October 2024, price could print lower to bring CHoCH positioning closer to current price action, as the previous CHoCH positioning was quite distant. This is exactly how price has moved.
Price is currently positioned in the premium above the 50% equilibrium (EQ).
Intraday Expectation: Price is expected to react at the premium of the 50% EQ or H4 supply zone before targeting weak internal low.
I advise caution due to ongoing geopolitical tensions and the Fed's dovish stance. However, we will remain systematic in our approach.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As mentioned in yesterday's intraday expectation that due to significant narrowing of the internal range, coupled with the fact that price is in premium of 50% EQ of the H4 internal range, I would not be surprised if price printed a bearish iBOS.
This is how price printed, printing a bearish iBOS.
Price has printed a bullish CHoCH indicating bullish pullback phase initiation with price currently reacting to a well positioned M15 supply zone.
Intraday Expectation: Price is expected to target weak internal low.
M15 Chart:
XAU/USD 14 October 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Analysis/Bias remains the same as analysis dated 13 October 2024.
As mentioned in my analysis dated 09 October 2024, price could print lower to bring CHoCH positioning closer to current price action, as the previous CHoCH positioning was quite distant. This is exactly how price has moved.
Price is currently positioned in the premium above the 50% equilibrium (EQ).
Intraday Expectation: Price is expected to react at the premium of the 50% EQ or H4 supply zone before targeting weak internal low.
I advise caution due to ongoing geopolitical tensions and the Fed's dovish stance. However, we will remain systematic in our approach.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following last week's bearish iBOS, price did not target weak internal low with price printing bullish iBOS.
This is in line with H4 bullish pullback phase.
We are now trading within an internal low and fractal high.
Should price print bearish CHoCH we would have a confirmed internal range which will be significantly narrower than previous internal ranges.
Intraday Expectation: Price is expected to print a bearish CHoCH, indicating the initiation of bearish pullback phase. Bearish CHoCH positioning is marked with a blue dotted line.
Systematically price should either react at discount of 50% EQ or M15 demand level to target weak internal high, however, due to significant narrowing of the internal range, coupled with the fact that price is in premium of 50% EQ of the H4 internal range, I would not be surpised if price printed a bearish iBOS.
M15 Analysis:
XAU/USD 07 October 2024 Intraday AnalysisH4 Analysis:
Analysis/bias remains the same as yesterday's analysis dated 06 October 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Bearish swing pullback phase has been confirmed by the first bearish Internal Break of Structure (iBOS), which has established the current swing range. Currently, price is trading between the swing high and internal low.
Following second bearish iBOS price printed a bullish Change of Character (CHoCH), suggesting but not confirming the initiation of a bullish pullback phase.
Price reacted from the premium zone above the 50% internal equilibrium (EQ). Although the weak internal low was targeted, price was unable to close below it after reacting from an H4 demand zone.
Intraday Expectation: Price is expected to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following a bullish iBOS, price has been highly volatile but remains contained within the internal range.
Price has wicked both above and below the internal range without any candle closures.
Intraday Expectation: Technically, price is expected to target the weak internal high. Price has attempted to reach the weak internal high but has failed to close above.
Alternative Scenario: Given that the H4 timeframe appears to be in a bearish pullback phase, any bullish momentum is likely to be short-lived. Price could potentially print a bearish iBOS.
M15 Chart:
XAU/USD 20 September 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Despite price printing it's first indication of bearish pullback phase initiation, price continued bullish.
Recent economic data and geopolitical tensions, have influenced market sentiment such as the Fed's recent interest rate decision (reduction) which typically supports Gold prices. Therefore, price is expected to remain highly volatile.
From a structural perspective, price is within an internal low and fractal high. CHoCH positioning is denoted with a blue dashed line
Intraday expectation: Due to volatility, price could continue bullish, however, price could also initiate bearish pullback, therefore, I will be standing by.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price did not meet yesterday's intraday with price printing a bullish BOS following reaction from discount of internal 50% EQ.
Fed rate decision to increase rates by 50bps along with geopolitical tensions is supporting Gold prices.
Price has not printed a bullish CHoCH, however, price has printed beyond internal 50% EQ and in to premium, therefore, I am happy to confirm internal range.
Price is currently contained within a swing low and fractal high.
CHoCH positioning is denoted with a blue dotted line.
Intraday expectation: Price to indicate pullback phase intimation. First indication would be for price to print bearish CHoCH.
M15 Chart:
XAU/USD 16 September 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As mentioned on 13 September 2024, price to indicate pullback by printing bearish CHoCH. Current CHoCH was significantly positioned away from price therefore, price could print higher-highs to bring CHoCH positioning closer to current price.
This is how price printed with CHoCH positioning being brought significantly closer to current price action.
Recent economic data, particularly from the US has influenced market sentiment such as softer US employment data leading to an expectation of a more softer approach from the Fed which typically supports Gold prices.
Intraday expectation: Price indicate pullback by printing bearish CHoCH.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Price has printed a further bullish iBOS followed by a bearish CHoCH indicating bearish pullback phase initiation.
Intraday expectation: Price has reacted at discount of 50% EQ. Technically price should target weak internal high.
M15 Chart:
XAU/USD 13 September 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a further bullish iBOS without any significant pullback following previous bullish iBOS
Recent economic data, particularly from the US has influenced market sentiment such as softer US employment data leading to an expectation of a more softer approach from the Fed which typically supports Gold prices.
Intraday expectation: Price indicate pullback by printing bearish CHoCH. Current CHoCH is significantly far, therefore, price could print higher-highs to bring CHoCH positioning closer to current price.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Price has printed a bullish BOS with price failing to target weak internal low.
Price has printed a bearish CHoCH indicating bearish pullback phase initiation.
At he time of writing it seems price is print higher-highs.
Intraday expectation: Price to continue bearish pullback phase, target either M15 demand zones or price reacts at discount of internal 50% EQ.
Alternative scenario, price prints bullish iBOS, confirming internal range low. This would give more realistic LTF confirmation that HTF is in pullback phase.
M15 Chart:
XAU/USD 11 September 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
On Tuesday 20 August 2024 price printed all time high.
Thursday 22 August 2024 price printed a bearish CHoCH which indicated bearish pullback phase initiation. Printing of bearish CHoCH has also confirmed internal range.
Thus far, over a period of 12-days, price has been unable break weak internal high which is an indicator that price may seek further liquidity before attempting to target weak internal high again.
I would expect price to either react at discount of internal 50% EQ or Daily demand zone before targeting weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price is currently reacting at an M15 supply zone.
Intraday expectation: Price is close to extreme premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
XAU/USD 10 September 2024 Intraday AnalysisH4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> 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: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
M15 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 05 September 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price has targeted weak internal low but the move was not sustained which indicates that price may be seeking further liquidity.
We are seeing a secondary reaction to previous M15 supply zone.
Intraday expectation: Price is in premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
XAU/USD 09 September 2024 Intraday AnalysisH4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> 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: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
M15 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 05 September 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price has targeted weak internal low but the move was not sustained which indicates that price may be seeking further liquidity.
We are seeing a secondary reaction to previous M15 supply zone.
Intraday expectation: Price is in premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
XAU/USD 05 September 2024 Intraday AnalysisH4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> 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: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
I have made an update following my review of overall analysis.
Bearish iBOS printed 22 August 2024 has subsequently lead me confirm the swing high which means M15 swing range is established.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price has targeted weak internal low but the move was not sustained which indicates that price may be seeking further liquidity.
We are seeing a secondary reaction to previous M15 supply zone.
Intraday expectation: Price is in premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
XAU/USD 03 September 2024 Intraday AnalysisH4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> 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: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price is stuck within an internal range and is most probably awaiting a catalyst (macroeconomic or geopolitical)
Technically price should target weak internal low and is currently reacting at premium of internal 50% EQ, however, price has ben printing low volume bars with no clear internal range direction.
Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong internal high.
M15 Chart:
XAU/USD 02 August 2024 Intraday AnalysisH4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> 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: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
M15 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 27 August 2024.
-> Swing: Bullish.
-> Internal: Bearish.
As mentioned in previous analysis whereby we needed 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. This is exactly what price printed, printing a bearish iBOS.
Price has printed bullish CHoCH indicating bullish pullback phase initiation.
Intraday expectation: Price is in premium of internal 50% EQ with strong high remaining protected. Price to target weak internal low.
M15 Chart:https://www.tradingview.com/x/JBvjXAlC/
XAU/USD 22 August 2024 Intraday AnalysisH4 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:
XAU/USD 21 August 2024 Intraday AnalysisH4 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:
XAU/USD 20 August 2024 Intraday AnalysisH4 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:
Analysis/Intraday expectation remains the same as yesterday's analysis dated 19 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
As mentioned in my analysis dated 16 August 2024, whereby internal structure was bearish. We needed to be mindful that H4 internal structure was bullish.
Price has printed a bullish BOS and iBOS.
Price has printed bearish CHoCH to indicate bearish pullback phase initiation.
Intraday expectation: Price to react at discount of 50% EQ, or M15 demand level to target weak internal high. Price may seek liquidity at M15 supply level to confirm bearish pullback phase initiation.
Alternative scenario: Price to target weak internal high.
M15 Chart:
XAU/USD 16 August 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias to remain the same as yesterday's analysis dated 15 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
As per previous intraday expectation, price was approaching internal high, however, due to US CPI data, and traders trimming rate-cut bets due to US CPI data, price had a bearish reaction, nonetheless, bullish structure remains intact.
Intraday expectation: Price to continue to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was met with price targeting weak internal low printing a bearish iBOS.
Bullish CHoCH positioning and strong internal high are positioned at the same level, however, as price has pulled back to discount of 50% internal EQ, I am happy to confirm internal low.
Price has reacted at H4 supply zone.
Intraday expectation: Price to target weak internal low, however, and as per yesterday's intraday expectation, we need to be mindful that H4 internal structure is bullish.
M15 Chart:
XAU/USD 15 August 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As per previous intraday expectation, price was approaching internal high, however, due to US CPI data, and traders trimming rate-cut bets due to US CPI data, price had a bearish reaction, nonetheless, bullish structure remains intact.
Intraday expectation: Price to continue to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was not met due to US CPI data release and traders trimming rate-cut bets which saw XAU print bearish price action.
Price has printed bullish CHoCH to indicate bullish pullback initiation.
Price has also reacted at 50% EQ of the internal structure.
Intraday expectation: Price to target weak internal low, however, we need to be mindful H4 TF remains bullish.
M15 Chart:
XAU/USD 14 August 2024 Intraday AnalysisH4 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 11 August 2024
-> Swing: Bullish.
-> Internal: Bullish.
Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high.
As previously mentioned, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high. This is what price printed according to my analysis.
Intraday expectation: Price has reacted at an H4 demand level, therefore, price to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following bullish iBOS, price printed a bearish CHoCH to indicate bearish pullback initiation.
Internal structure is substantial, therefore, I have zoomed out in order to obtain a better view of structure.
Price has reacted at an M15 supply level, however, the move did not sustain sufficient bearish momentum and it seems weak internal high is being targeted.
Intraday expectation: Whilst I have mentioned that price may target weak internal high, price may well print a secondary reaction to the M15 supply level in order to gain more liquidity to complete bearish pullback phase.
M15 Chart:
