XAU/USD 01-05 April 2024 Weekly Analysis
Weekly analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish swing BOS followed by a bullish iBOS.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dotted line. Price has now printed a bearish CHoCH.
Price is now trading within an internal high and fractal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Price could potentially continue bullish to bring the CHoCH closer to current price.
Weekly Chart:
Daily Analysis:
Analysis/Bias remains unchanged since last daily analysis dated 20/03/2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.
Price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent as the CHoCH has been brought considerably closer.
Daily Chart:
H4 Analysis:
Analysis/Bias remains unchanged since last analysis dated 29/03/2024
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price is now trading 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:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish swing BOS followed by a bullish iBOS.
Most likely scenario would be for price to pull back following swing and internal BOS (Break Of Structure)
First structural indication, but not confirmation that pullback has initiated would be for price to print a bearish CHoCH which is denoted by a vertical blue dotted line. Price has now printed a bearish CHoCH.
Price is now trading within an internal high and fractal low.
Expectation is for price to pullback following swing and internal pullback. Internal low and CHoCH are positioned at the same level.
Price could potentially continue bullish to bring the CHoCH closer to current price.
Weekly Chart:
Daily Analysis:
Analysis/Bias remains unchanged since last daily analysis dated 20/03/2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Most likely scenario will be for price to pull back following swing BOS. First indication, but not confirmation, would be a bearish CHOCH denoted with a vertical dotted line.
Price could potentially continue to trade bullish to seek further liquidity before pullback, however, it is looking increasingly likely a pullback will be imminent as the CHoCH has been brought considerably closer.
Daily Chart:
H4 Analysis:
Analysis/Bias remains unchanged since last analysis dated 29/03/2024
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price is now trading 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:
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