XAU/USD 07 October 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As highlighted in my analysis dated 31 October 2024: We should remain aware that the daily timeframe has been showing early signs of a potential bearish pullback phase initiation, suggesting that price could print a bearish iBOS despite H4 internal structure being bullish.
This printed as anticipated, with price printing a bearish iBOS that also confirmed the swing structure.
Price is now trading within an established swing range.
Intraday Expectation: Price is expected to print a bullish CHoCH, indicating the start of a bullish pullback phase.
Note: Due to the Fed’s softer stance and ongoing geopolitical tensions, we should remain mindful that volatility in Gold is likely to persist.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As detailed in yesterday's intraday analysis dated 06 November 2024, I noted that price was expected to target the weak internal low.
Price printed to this expectation, successfully targeting the weak internal low and printing a bearish iBOS.
Following this, price has printed an additional bearish iBOS and a bullish CHoCH, confirming the internal range.
Intraday Expectation: Price is anticipated to target the weak internal low after reacting from either the premium of 50% EQ or the M15 supply zone.
Note: Considering the Fed’s softer stance, and rising geopolitical tensions, price volatility is likely to remain elevated.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bearish.
As highlighted in my analysis dated 31 October 2024: We should remain aware that the daily timeframe has been showing early signs of a potential bearish pullback phase initiation, suggesting that price could print a bearish iBOS despite H4 internal structure being bullish.
This printed as anticipated, with price printing a bearish iBOS that also confirmed the swing structure.
Price is now trading within an established swing range.
Intraday Expectation: Price is expected to print a bullish CHoCH, indicating the start of a bullish pullback phase.
Note: Due to the Fed’s softer stance and ongoing geopolitical tensions, we should remain mindful that volatility in Gold is likely to persist.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
As detailed in yesterday's intraday analysis dated 06 November 2024, I noted that price was expected to target the weak internal low.
Price printed to this expectation, successfully targeting the weak internal low and printing a bearish iBOS.
Following this, price has printed an additional bearish iBOS and a bullish CHoCH, confirming the internal range.
Intraday Expectation: Price is anticipated to target the weak internal low after reacting from either the premium of 50% EQ or the M15 supply zone.
Note: Considering the Fed’s softer stance, and rising geopolitical tensions, price volatility is likely to remain elevated.
M15 Chart:
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