XAU/USD 19-23 August 2024 Weekly Analysis

8월 18일Weekly Analysis:

Swing Structure: Bullish.
Internal Structure: Bullish.

Price has continued to print all time highs with no indication of bearish pullback phase initiation.

The first indication of pullback will be for price to print a bearish CHoCH which is denoted with a blue dotted line.

I have previously mentioned that price could print further highs which would bring CHOCH positioning closer to current price and this is what price printed. CHoCH positioning has been brought close to current price action.

Weekly Chart:

Daily Analysis:

-> Swing: Bullish.
-> Internal: Bullish.

Price has printed a further bullish iBOS.

After bullish iBOS we expect bearish pullback.

First indication, but not confirmation of bearish pullback phase initiation is for price to print a bearish CHoCH.

Bearish CHoCH positioning, which is denoted with a blue dotted line, and 50% internal EQ are almost identical.

We currently do not have any indication of price pulling back.

Daily Chart:

H4 Analysis:

-> Swing: Bullish.
-> Internal: Bullish.

Price has printed a bullish iBOS.

After an iBOS (Internal Break of Structure) we expect a bearish pullback.

Bearish CHoCH positioning is denoted with a blue dotted line.

H4 demand zone is positioned the same as bearish CHoCH positioning.

Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback.

H4 Chart: