Wave structure of gold in the 15M time frame analyzed by the SM
The wave structure of gold in the 15M time frame is analyzed using the SMC method
At frame 15M, the price broke through the Swinglow, creating a BOS signal and shifting to a downtrend.
In the 4h frame, the price broke the i-Low bottom, creating a CHOCH signal
Wait for the price to increase back to the OB block in the 4h time frame, then wait for 15M to have a CHOCH signal so we can sell down.
SH: Swing High
SL: Swing Low
i-Low: Internal Low
i-High: Internal High
i-BOS: Internal BOS
At frame 15M, the price broke through the Swinglow, creating a BOS signal and shifting to a downtrend.
In the 4h frame, the price broke the i-Low bottom, creating a CHOCH signal
Wait for the price to increase back to the OB block in the 4h time frame, then wait for 15M to have a CHOCH signal so we can sell down.
SH: Swing High
SL: Swing Low
i-Low: Internal Low
i-High: Internal High
i-BOS: Internal BOS
Comment:
Gold did not increase again but continued to decrease and broke the bottom so Swinghigh 15M remained unchanged.
Comment:
The price decreased as planned but could not break the peak of 15M, but only mitiger at the peak of 15M
Comment:
After the price dropped to the strong Swinglow bottom of 15M, the price increased again to surpass the strong Swinghigh of 1M, starting the pullback phase of 15M.
