XAU/USD 30 September 2024 Intraday Analysis
H4 Analysis:
Intraday analysis/bias remains the same as yesterday's analysis dated 29 September 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has continued to surge in price printing all time highs with price pulling back very minimally.
Price has printed a further bullish iBOS. Bearish CHoCH has been printed indicating bearish pullback phase initiation. We also have established an internal range.
You will note the internal range has extensively narrowed, allowing price to confirm swing pullback phase by printing bearish iBOS. However, we remain bullish.
Although price has tapped in to strong internal low, price has been unable to close below
Intraday expectation: Price to target weak internal high, however, due to the narrowing of the internal range and all HTF's requiring pullback, it would not be unrealistic if price prints a bearish iBOS.
H4 Chart:
M15 analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Last week's intraday expectation (27 September 2024): In my previous analysis, I mentioned an alternative scenario where, due to all higher time frames (HTFs) requiring a pullback, it would not be surprising if the price printed a bearish Internal Break of Structure (iBOS). This is exactly what transpired, with the price printing a bearish iBOS.
This marks the first bearish iBOS since 18 September 2024, confirming the swing structure.
Following the bearish iBOS, the price has now printed a bullish Change of Character (CHoCH), indicating a potential shift in momentum. Currently, the price is contained within an internal range and is trading in the premium zone above the 50% equilibrium (EQ) of that range.
Intraday Expectation: The price is expected to react at the M15 supply level before potentially targeting a weak internal low.
With rising geopolitical tensions, Gold is likely to remain highly volatile in the near term.
M15 Chart:
Intraday analysis/bias remains the same as yesterday's analysis dated 29 September 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has continued to surge in price printing all time highs with price pulling back very minimally.
Price has printed a further bullish iBOS. Bearish CHoCH has been printed indicating bearish pullback phase initiation. We also have established an internal range.
You will note the internal range has extensively narrowed, allowing price to confirm swing pullback phase by printing bearish iBOS. However, we remain bullish.
Although price has tapped in to strong internal low, price has been unable to close below
Intraday expectation: Price to target weak internal high, however, due to the narrowing of the internal range and all HTF's requiring pullback, it would not be unrealistic if price prints a bearish iBOS.
H4 Chart:
M15 analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Last week's intraday expectation (27 September 2024): In my previous analysis, I mentioned an alternative scenario where, due to all higher time frames (HTFs) requiring a pullback, it would not be surprising if the price printed a bearish Internal Break of Structure (iBOS). This is exactly what transpired, with the price printing a bearish iBOS.
This marks the first bearish iBOS since 18 September 2024, confirming the swing structure.
Following the bearish iBOS, the price has now printed a bullish Change of Character (CHoCH), indicating a potential shift in momentum. Currently, the price is contained within an internal range and is trading in the premium zone above the 50% equilibrium (EQ) of that range.
Intraday Expectation: The price is expected to react at the M15 supply level before potentially targeting a weak internal low.
With rising geopolitical tensions, Gold is likely to remain highly volatile in the near term.
M15 Chart:
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