XAU/USD 19 July 2024 Intraday Analysis

H4 Analysis:

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

Price has printed a swing BOS, printing an all time high.

After BOS/iBOS price is expected to pullback.

Intraday expectation: Price to pull back into discount of 50% EQ or H4 demand zone before targeting weak internal high.

H4 Chart: 快照

M15 Analysis:

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

Price has printed a bearish iBOS which confirms swing pullback phase initiation.

After 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.

CHoCH positioning is denoted with a blue dotted line on the inside bar candle.

We are currently trading within an internal high and fractal low.

Intraday expectation: Price to print bullish CHoCH to indicate bullish pullback phase initiation. Price to trade up to premium of 50% EQ or react at M15 POI before targeting weak internal low.

Alternative scenario: Price to print a lower low which would reposition CHoCH positioning closer to more recent price action.

M15 Chart: 快照
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