XAU/USD 23 May 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish BOS.
After bullish BOS, expectation is for price to pullback.
As previously mentioned, price was showing very early signs of pullback, however, we did not have indication or confirmation.
I also previously mentioned that first indication, but not confirmation, would be for price to print a bearish CHoCH. The CHoCH line is denoted with a blue dotted line.
Price has now printed a bearish CHoCH which indicates, but not confirms pullback initiation.
Price is now in discount of 50% EQ and close to a H4 demand zone where would expect to see a reaction.
Intraday expectation: Price to continue bearish and react at H4 POI's to then target weak internal high which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bearish iBOS (Internal break of structure).
After iBOS price is expected to pull back.
Intraday expectation dated 21 May 2024 was for price to continue bullish. React at either premium of 50% EQ or M15 POI both of which were positioned closely before targeting weak internal low which was denoted with a blue dashed line.
Price printed as expected and printed a bearish iBOS.
Price has continued bearish and we are now trading within an internal high and fractal low.
Intraday expectation: We are expecting price to pullback. First indication, but not confirmation of pullback initiation is a bullish CHoCH which is denoted with a blue dotted line. Price to continue bullish, react at premium of 50% before targeting weak internal low which is currently a fractal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish BOS.
After bullish BOS, expectation is for price to pullback.
As previously mentioned, price was showing very early signs of pullback, however, we did not have indication or confirmation.
I also previously mentioned that first indication, but not confirmation, would be for price to print a bearish CHoCH. The CHoCH line is denoted with a blue dotted line.
Price has now printed a bearish CHoCH which indicates, but not confirms pullback initiation.
Price is now in discount of 50% EQ and close to a H4 demand zone where would expect to see a reaction.
Intraday expectation: Price to continue bearish and react at H4 POI's to then target weak internal high which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bearish iBOS (Internal break of structure).
After iBOS price is expected to pull back.
Intraday expectation dated 21 May 2024 was for price to continue bullish. React at either premium of 50% EQ or M15 POI both of which were positioned closely before targeting weak internal low which was denoted with a blue dashed line.
Price printed as expected and printed a bearish iBOS.
Price has continued bearish and we are now trading within an internal high and fractal low.
Intraday expectation: We are expecting price to pullback. First indication, but not confirmation of pullback initiation is a bullish CHoCH which is denoted with a blue dotted line. Price to continue bullish, react at premium of 50% before targeting weak internal low which is currently a fractal low.
M15 Chart:
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