Weekly XAUUSD analysis, 8-12 July 2024.

7 Jul

-The price mitigated the extreme demand of the INT structure and did bullish CHoCH.
Now the price is ready to target the weak INT high.

D:

-The price has shifted bullish after reaching the extreme swing range and mitigating the last demand area.

Now we can say the new swing 4H leg has started, and we are targeting the weak swing high.

4H:


-The price could shift bearish and break this strong INT low facilitating the 4H INT pullback.

So, If you want to follow the bullish OF you should wait for your confirmation that the price is shifting in your favor.

15M: