XAU/USD 18 November 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bearish.
-> Internal: Bearish.
Price Action Analysis:
Analysis remains the same as analysis dated 12 November 2024.
Price has printed both a bearish Internal Break of Structure (iBOS) and a subsequent bearish Break of Structure (BOS), confirming the need for a pullback across all higher timeframes (HTFs).
Currently, price action remains in alignment with the broader pullback requirements.
Intraday Expectation
The expectation for the intraday session is that price will print a bullish Change of Character (CHoCH) to signify the initiation of a bullish pullback phase. The positioning of this bullish CHoCH is indicated by the blue dotted line on the chart.
However, it is also possible that price could extend to a new low, bringing the CHoCH positioning much closer to the current price action, setting the stage for a potential bullish reversal signal.
Note:
Given the Federal Reserve’s dovish stance and ongoing geopolitical uncertainties, heightened volatility in Gold prices is anticipated to persist. Traders should exercise caution and remain vigilant in this high-volatility environment.
H4 Chart:
M15 Analysis:
-> Swing: Bearish.
-> Internal: Bullish.
Price Action Analysis:
The prior intraday expectation was invalidated as price printed a bullish Internal Break of Structure (iBOS), signaling a shift in internal order flow.
Following bullish iBOS, the next anticipated move is the printing of a bearish Change of Character (CHoCH), which would indicate the initiation of a bearish pullback phase. This CHoCH positioning is marked by a blue dotted line.
Intraday Expectation:
For today's session, we are looking for confirmation of a bearish pullback phase by price printing a bearish CHoCH. Bearish CHoCH positioning is marked with a blue dotted line
Alternative Scenario:
On the H4 timeframe, there are signs of a bullish pullback phase potentially developing, though there is no confirmation as of yet. In my view, the bullish momentum on the M15 timeframe is to assist the H4 timeframe in confirming its pullback phase.
Note:
With the Federal Reserve's dovish policy approach and rising geopolitical tensions, heightened volatility in Gold prices is expected to continue. Traders should remain cautious and prepared for potential whipsaws in price action.
M15 Chart:
-> Swing: Bearish.
-> Internal: Bearish.
Price Action Analysis:
Analysis remains the same as analysis dated 12 November 2024.
Price has printed both a bearish Internal Break of Structure (iBOS) and a subsequent bearish Break of Structure (BOS), confirming the need for a pullback across all higher timeframes (HTFs).
Currently, price action remains in alignment with the broader pullback requirements.
Intraday Expectation
The expectation for the intraday session is that price will print a bullish Change of Character (CHoCH) to signify the initiation of a bullish pullback phase. The positioning of this bullish CHoCH is indicated by the blue dotted line on the chart.
However, it is also possible that price could extend to a new low, bringing the CHoCH positioning much closer to the current price action, setting the stage for a potential bullish reversal signal.
Note:
Given the Federal Reserve’s dovish stance and ongoing geopolitical uncertainties, heightened volatility in Gold prices is anticipated to persist. Traders should exercise caution and remain vigilant in this high-volatility environment.
H4 Chart:
M15 Analysis:
-> Swing: Bearish.
-> Internal: Bullish.
Price Action Analysis:
The prior intraday expectation was invalidated as price printed a bullish Internal Break of Structure (iBOS), signaling a shift in internal order flow.
Following bullish iBOS, the next anticipated move is the printing of a bearish Change of Character (CHoCH), which would indicate the initiation of a bearish pullback phase. This CHoCH positioning is marked by a blue dotted line.
Intraday Expectation:
For today's session, we are looking for confirmation of a bearish pullback phase by price printing a bearish CHoCH. Bearish CHoCH positioning is marked with a blue dotted line
Alternative Scenario:
On the H4 timeframe, there are signs of a bullish pullback phase potentially developing, though there is no confirmation as of yet. In my view, the bullish momentum on the M15 timeframe is to assist the H4 timeframe in confirming its pullback phase.
Note:
With the Federal Reserve's dovish policy approach and rising geopolitical tensions, heightened volatility in Gold prices is expected to continue. Traders should remain cautious and prepared for potential whipsaws in price action.
M15 Chart:
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