XAU/USD 11 September 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
On Tuesday 20 August 2024 price printed all time high.
Thursday 22 August 2024 price printed a bearish CHoCH which indicated bearish pullback phase initiation. Printing of bearish CHoCH has also confirmed internal range.
Thus far, over a period of 12-days, price has been unable break weak internal high which is an indicator that price may seek further liquidity before attempting to target weak internal high again.
I would expect price to either react at discount of internal 50% EQ or Daily demand zone before targeting weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price is currently reacting at an M15 supply zone.
Intraday expectation: Price is close to extreme premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
On Tuesday 20 August 2024 price printed all time high.
Thursday 22 August 2024 price printed a bearish CHoCH which indicated bearish pullback phase initiation. Printing of bearish CHoCH has also confirmed internal range.
Thus far, over a period of 12-days, price has been unable break weak internal high which is an indicator that price may seek further liquidity before attempting to target weak internal high again.
I would expect price to either react at discount of internal 50% EQ or Daily demand zone before targeting weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Due to several factors such as geopolitical tensions and many macroeconomic factors XAU continues to surge.
Nonetheless, I will continue with systematic rules of analysis.
Technically price should target weak internal low, therefore, my bias will remain unchanged until M15 candle break and close above swing high.
Price is currently reacting at an M15 supply zone.
Intraday expectation: Price is close to extreme premium of internal 50% EQ. Price to target weak internal low. My bias will remain unchanged until and unless M15 candle close above strong swing high.
M15 Chart:
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