Analysis/bias remains the same as yesterday's analysis dated 12 November 2024.
Price has printed a bearish iBOS followed by a bearish BOS. This is in-line with all HTF's requiring a pullback.
Intraday Expectation: Price to indicate bullish CHoCH to indicate bullish pullback phase initiation. Bullish CHoH positioning is denoted with a blue dotted line.
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: Bearish. -> Internal: Bearish.
Previous intraday analysis where I mentioned that price to trade up to either premium of internal 50% EQ or M15 demand zone before targeting weak internal low priced at 2,589.725 was how price printed.
Price has printed a further bearish iBOS.
We are now trading within an internal high and fractal low where price is showing reaction from H4 demand zone.
Price has printed has yet to print a bullish CHoCH indicating bullish pullback phase initiation. CHoCH positioning is denoted with a blue dotted line.
Intraday Expectation: Price to trade up to either premium of internal 50% EQ or M15 demand zone before targeting weak internal low. Price could potentially print a lower low to reposition CHoCH.
Note: With the Fed's softer policy stance and escalating geopolitical tensions, elevated price volatility is likely to persist.
M15 Chart:
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**CORRECTION**
price to target M15 supply zone, not demand zone as previously stated.