XAU/USD 22 Ocotober 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Analysis and bias remain unchanged from yesterday's analysis dated 20 October 2024.
Price has printed both a bullish iBOS and a subsequent BOS.
Driven by the Fed's dovish stance and escalating geopolitical tensions, gold, as a safe-haven asset, has continued its upward surge.
The swing low has been brought significantly closer. A break of this swing low would confirm the initiation of a pullback phase across all higher timeframes (HTFs).
Following the BOS and iBOS, we expect a pullback. The first indication, but not confirmation, would be price printing a bearish CHoCH, denoted by a blue dotted line.
At this stage, there are no signs of a pullback, so price could continue higher to bring CHoCH positioning closer to current price action.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Yesterday's intraday expectation was met, with price targeting weak internal high.
However, internal structure bullish momentum was not sustained, as price printed an iBOS. This was expected, given that all higher timeframes (HTFs) are in need of a pullback.
Price has reacted from M15 supply level.
Intraday Expectation: Price is expected to target weak internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Analysis and bias remain unchanged from yesterday's analysis dated 20 October 2024.
Price has printed both a bullish iBOS and a subsequent BOS.
Driven by the Fed's dovish stance and escalating geopolitical tensions, gold, as a safe-haven asset, has continued its upward surge.
The swing low has been brought significantly closer. A break of this swing low would confirm the initiation of a pullback phase across all higher timeframes (HTFs).
Following the BOS and iBOS, we expect a pullback. The first indication, but not confirmation, would be price printing a bearish CHoCH, denoted by a blue dotted line.
At this stage, there are no signs of a pullback, so price could continue higher to bring CHoCH positioning closer to current price action.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Yesterday's intraday expectation was met, with price targeting weak internal high.
However, internal structure bullish momentum was not sustained, as price printed an iBOS. This was expected, given that all higher timeframes (HTFs) are in need of a pullback.
Price has reacted from M15 supply level.
Intraday Expectation: Price is expected to target weak internal low.
M15 Chart:
Not
*CORRECTION* On M15 Timeframe internal structure, under description, mentions bullish, when it is bearish. 
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