XAU/USD 23 October 2024 Intraday Analysis
H4 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.
As a result of this strong bullish momentum, CHoCH positioning has been brought significantly closer to current price action, reducing the need for a deep pullback to indicate the initiation of a bearish pullback phase.
Intraday Expectation: Price is not currently showing any signs of a pullback, so I will remain on standby.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Yesterday's intraday expectation was not met, as price failed to target the weak internal low and instead printed a bullish iBOS.
As previously mentioned, price remains extremely volatile due to ongoing geopolitical tensions and the Fed's softer stance.
After a bullish iBOS, we expect a pullback. The first indication, but not confirmation, of a bearish pullback phase initiation would be a bearish CHoCH, denoted by a blue dotted line.
Price is currently trading between an internal low and a fractal high.
Intraday Expectation: Price is expected to print a bearish CHoCH, indicating the initiation of a bearish pullback phase.
M15 Chart:
-> 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.
As a result of this strong bullish momentum, CHoCH positioning has been brought significantly closer to current price action, reducing the need for a deep pullback to indicate the initiation of a bearish pullback phase.
Intraday Expectation: Price is not currently showing any signs of a pullback, so I will remain on standby.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Yesterday's intraday expectation was not met, as price failed to target the weak internal low and instead printed a bullish iBOS.
As previously mentioned, price remains extremely volatile due to ongoing geopolitical tensions and the Fed's softer stance.
After a bullish iBOS, we expect a pullback. The first indication, but not confirmation, of a bearish pullback phase initiation would be a bearish CHoCH, denoted by a blue dotted line.
Price is currently trading between an internal low and a fractal high.
Intraday Expectation: Price is expected to print a bearish CHoCH, indicating the initiation of a bearish pullback phase.
M15 Chart:
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.