XAU/USD 31 Jan 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish and trading sideways in a large internal range.
Price has reacted to Daily and H4 nested supply levels where we saw a reaction.
Expectation remains as yesterday's analysis, for price to continue to trade bearish to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Price has printed a bearish iBOS where we are now in the pullback phase.
Sub-structure to internal structure, which is marked in red where price has now printed a bullish iiBOS.
As mentioned yesterday, price could potentially target H4 POI, which it did and rejected sharply where price printed a bearish CHoCH thereby confirming sub-internal range which we continue to trade within.
Price is currently reacting to 50% EQ of the sub-internal range.
Expectation remains the same, for price to target weak internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish and trading sideways in a large internal range.
Price has reacted to Daily and H4 nested supply levels where we saw a reaction.
Expectation remains as yesterday's analysis, for price to continue to trade bearish to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Price has printed a bearish iBOS where we are now in the pullback phase.
Sub-structure to internal structure, which is marked in red where price has now printed a bullish iiBOS.
As mentioned yesterday, price could potentially target H4 POI, which it did and rejected sharply where price printed a bearish CHoCH thereby confirming sub-internal range which we continue to trade within.
Price is currently reacting to 50% EQ of the sub-internal range.
Expectation remains the same, for price to target weak internal low.
M15 Chart:
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