XAU/USD 14 October 2024 Intraday Analysis
H4 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:
-> 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:
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