XAU/USD 01 April 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed further highs and we continue to trade within a fractal high and low.
As mentioned on 22/03/2024, Intraday expectation was for price to react H4 POI to then target fractal high, which price did, creating a new high.
Due to the bullish nature of the market and prices at all time highs, it would be advisable to adopt patience and allow price to print structure as opposed to picking tops.
H4 chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a further bullish iBOS printing all time highs.
Price is now contained within internal structure after confirmation of bearish ChoCH.
As with all HTF's it would be advisable to adopt patience and allow price to print structure before taking any action as opposed to picking tops.
First structural sign, but not confirmation, that pullback has initiated is a bearish CHoCH, which price has printed.
Intraday expectation would be for price to pull back following iBOS, react at either M15 POI or 50% EQ of the internal structure before price targets weak internal high.
Another likely scenario is price to continue bullish and keep printing all time highs!
M15 chart:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed further highs and we continue to trade within a fractal high and low.
As mentioned on 22/03/2024, Intraday expectation was for price to react H4 POI to then target fractal high, which price did, creating a new high.
Due to the bullish nature of the market and prices at all time highs, it would be advisable to adopt patience and allow price to print structure as opposed to picking tops.
H4 chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a further bullish iBOS printing all time highs.
Price is now contained within internal structure after confirmation of bearish ChoCH.
As with all HTF's it would be advisable to adopt patience and allow price to print structure before taking any action as opposed to picking tops.
First structural sign, but not confirmation, that pullback has initiated is a bearish CHoCH, which price has printed.
Intraday expectation would be for price to pull back following iBOS, react at either M15 POI or 50% EQ of the internal structure before price targets weak internal high.
Another likely scenario is price to continue bullish and keep printing all time highs!
M15 chart:
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