XAU/USD 30 October 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold’s rally continues, driven by the Fed’s dovish tone and escalating geopolitical tensions, further reinforcing its safe-haven appeal.
Price has printed a bullish iBOS, positioning it within an internal low and a fractal high, with the bearish CHoCH level denoted by a blue dotted line.
Intraday Expectation: Since the internal range has yet to establish, I’ll remain on standby for now.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As noted in the weekly analysis from 27 October 2024, the daily timeframe’s CHoCH positioning was distant, making it likely for both H4 and M15 to print bullish iBOS, which has since materialised.
Price has now printed two bullish iBOS' within a significantly narrowed internal range, and we’re currently trading between an internal low and a fractal high, with CHoCH positioning marked by a blue dotted line.
Intraday Expectation: Technically, price is expected to react at the internal 50% EQ discount to target the weak internal high. However, a bearish iBOS is also plausible.
As emphasised before, price remains highly volatile due to ongoing geopolitical tensions and the Fed’s softer stance.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Gold’s rally continues, driven by the Fed’s dovish tone and escalating geopolitical tensions, further reinforcing its safe-haven appeal.
Price has printed a bullish iBOS, positioning it within an internal low and a fractal high, with the bearish CHoCH level denoted by a blue dotted line.
Intraday Expectation: Since the internal range has yet to establish, I’ll remain on standby for now.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As noted in the weekly analysis from 27 October 2024, the daily timeframe’s CHoCH positioning was distant, making it likely for both H4 and M15 to print bullish iBOS, which has since materialised.
Price has now printed two bullish iBOS' within a significantly narrowed internal range, and we’re currently trading between an internal low and a fractal high, with CHoCH positioning marked by a blue dotted line.
Intraday Expectation: Technically, price is expected to react at the internal 50% EQ discount to target the weak internal high. However, a bearish iBOS is also plausible.
As emphasised before, price remains highly volatile due to ongoing geopolitical tensions and the Fed’s softer stance.
M15 Chart:
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