XAU/USD 14 August 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 11 August 2024
-> Swing: Bullish.
-> Internal: Bullish.
Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high.
As previously mentioned, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high. This is what price printed according to my analysis.
Intraday expectation: Price has reacted at an H4 demand level, therefore, price to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following bullish iBOS, price printed a bearish CHoCH to indicate bearish pullback initiation.
Internal structure is substantial, therefore, I have zoomed out in order to obtain a better view of structure.
Price has reacted at an M15 supply level, however, the move did not sustain sufficient bearish momentum and it seems weak internal high is being targeted.
Intraday expectation: Whilst I have mentioned that price may target weak internal high, price may well print a secondary reaction to the M15 supply level in order to gain more liquidity to complete bearish pullback phase.
M15 Chart:
Analysis/Bias remains the same as yesterdays analysis dated 11 August 2024
-> Swing: Bullish.
-> Internal: Bullish.
Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high.
As previously mentioned, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high. This is what price printed according to my analysis.
Intraday expectation: Price has reacted at an H4 demand level, therefore, price to target weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following bullish iBOS, price printed a bearish CHoCH to indicate bearish pullback initiation.
Internal structure is substantial, therefore, I have zoomed out in order to obtain a better view of structure.
Price has reacted at an M15 supply level, however, the move did not sustain sufficient bearish momentum and it seems weak internal high is being targeted.
Intraday expectation: Whilst I have mentioned that price may target weak internal high, price may well print a secondary reaction to the M15 supply level in order to gain more liquidity to complete bearish pullback phase.
M15 Chart:
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