XAU/USD 29 Jan 2024 Intraday Analysis
H4 Chart 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 is currently reacting at H4 supply and 50% EQ.
Expectation remains as previous analysis, for price to continue to trade bearish to target weak internal low.
M15 Chart 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.
Price has printed a bullish CHoCH which is the first sign (but not confirmation) that internal pullback has initiated. Internal EQ is marked in green.
Sub-structure to internal structure is marked in red where price has printed a bearish iiBOS in line with the internal structure as it is anticipated that price will target M15 internal low as per analysis since Monday this week.
Currently price is trading in premium of the sub-internal structure where price is reacting to nested H4 and M15 supply levels.
Expectation is for price to target weak internal low.
M15:
-> 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 is currently reacting at H4 supply and 50% EQ.
Expectation remains as previous analysis, for price to continue to trade bearish to target weak internal low.
M15 Chart 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.
Price has printed a bullish CHoCH which is the first sign (but not confirmation) that internal pullback has initiated. Internal EQ is marked in green.
Sub-structure to internal structure is marked in red where price has printed a bearish iiBOS in line with the internal structure as it is anticipated that price will target M15 internal low as per analysis since Monday this week.
Currently price is trading in premium of the sub-internal structure where price is reacting to nested H4 and M15 supply levels.
Expectation is for price to target weak internal low.
M15:
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