XAU/USD 15-19 April 2024 Weekly Analysis
Weekly Analysis:
Price has been printing further all time highs. Below analysis remains the same as last week's weekly analysis dated 07 April 2024
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish swing BOS followed by a bullish iBOS and continues to break all time highs.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dashed line as internal low as CHoCH are priced at the same level.
Price is now trading within a fractal high and internal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Weekly Chart:
Daily Analysis:
Price has continued to print all time highs.
CHoCH has been repositioned closer to most recent price action.
Remainder of analysis/bias remains unchanged since last daily analysis dated 07 April 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.
As mentioned on 31 March 2024, price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent as the CHoCH has been brought considerably closer.
Daily Chart:
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's relentless bullish run and continues to print all time highs.
Price on all HTF's requires a pullback. Bearish CHoCH which is denoted with blue dotted line would indicate pullback initiation but not confirm.
Price has now printed a bearish CHoCH.
Due to the bullish nature of the market and prices at all time highs, the most prudent remains the same, which is to adopt patience and allow price to print structure as opposed to picking tops.
H4 Chart:
Price has been printing further all time highs. Below analysis remains the same as last week's weekly analysis dated 07 April 2024
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish swing BOS followed by a bullish iBOS and continues to break all time highs.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dashed line as internal low as CHoCH are priced at the same level.
Price is now trading within a fractal high and internal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Weekly Chart:
Daily Analysis:
Price has continued to print all time highs.
CHoCH has been repositioned closer to most recent price action.
Remainder of analysis/bias remains unchanged since last daily analysis dated 07 April 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.
As mentioned on 31 March 2024, price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent as the CHoCH has been brought considerably closer.
Daily Chart:
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's relentless bullish run and continues to print all time highs.
Price on all HTF's requires a pullback. Bearish CHoCH which is denoted with blue dotted line would indicate pullback initiation but not confirm.
Price has now printed a bearish CHoCH.
Due to the bullish nature of the market and prices at all time highs, the most prudent remains the same, which is to adopt patience and allow price to print structure as opposed to picking tops.
H4 Chart:
Penafian
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