XAU/USD 01 August 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias remains the same as yesterday's analysis dated 31 July 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS, printing an all time high.
After BOS/iBOS price is expected to pullback.
Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price printed a bulish iBOS followed by a double bearish iBOS.
Whilst the most recent bearish iBOS did not print a bullish CHoCH, I was happy to mark the internal low as price had reached 50% and in to premium of the internal EQ.
After bearish iBOS we expect price to pull back, therefore, for an early indication that pullback has initiated we need to see price print a bullish CHoCH.
Intraday expectation: Price to print bullish CHoCH to indicate pullback initiation before targeting weak internal low.
M15 Chart:
Analysis/Bias remains the same as yesterday's analysis dated 31 July 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS, printing an all time high.
After BOS/iBOS price is expected to pullback.
Last analysis and intraday expectation was for price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high which currently seems underway, therefore, intraday expectation remains the same.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price printed a bulish iBOS followed by a double bearish iBOS.
Whilst the most recent bearish iBOS did not print a bullish CHoCH, I was happy to mark the internal low as price had reached 50% and in to premium of the internal EQ.
After bearish iBOS we expect price to pull back, therefore, for an early indication that pullback has initiated we need to see price print a bullish CHoCH.
Intraday expectation: Price to print bullish CHoCH to indicate pullback initiation before targeting weak internal low.
M15 Chart:
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