XAU/USD 26-30 August 2024 Weekly Analysis
Weekly Analysis:
Swing Structure: Bullish.
Internal Structure: Bullish.
Price has continued to print all time highs with no indication of bearish pullback phase initiation.
The first indication of pullback will be for price to print a bearish CHoCH which is denoted with a blue dotted line.
I have previously mentioned that price could print further highs which would bring CHOCH positioning closer to current price and this is what price printed again, However, CHoCH positioning remains the same.
Weekly Chart:
Daily Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a further bullish iBOS.
After bullish iBOS we expect bearish pullback.
First indication, but not confirmation of bearish pullback phase initiation is for price to print a bearish CHoCH.
Bearish CHoCH positioning, which is denoted with a blue dotted line, and 50% internal EQ are almost identical.
We currently do not have any indication of price pulling back.
Daily Chart:
H4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation
Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
Swing Structure: Bullish.
Internal Structure: Bullish.
Price has continued to print all time highs with no indication of bearish pullback phase initiation.
The first indication of pullback will be for price to print a bearish CHoCH which is denoted with a blue dotted line.
I have previously mentioned that price could print further highs which would bring CHOCH positioning closer to current price and this is what price printed again, However, CHoCH positioning remains the same.
Weekly Chart:
Daily Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a further bullish iBOS.
After bullish iBOS we expect bearish pullback.
First indication, but not confirmation of bearish pullback phase initiation is for price to print a bearish CHoCH.
Bearish CHoCH positioning, which is denoted with a blue dotted line, and 50% internal EQ are almost identical.
We currently do not have any indication of price pulling back.
Daily Chart:
H4 Analysis:
Intraday expectation, analysis and bias remains the same as analysis dated 23 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Price has printed bearish CHoCH which indicates, but not confirms bearish pullback phase initiation
Intraday expectation: Whilst price did continue bearish as part of bearish pullback phase, I am concerned that price has not, as yet, pulled back deep enough into either H4 demand zone or discount of 50% EQ, therefore, it is my view that price will seek further liquidity before a sustained bullish move to target weak internal high.
H4 Chart:
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