XAU/USD 07 June 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish which is the strongest confirmation yet that swing pullback is complete.
We are now expecting price to pullback. As price has traded higher the CHoCH has been repositioned closer to current price action.
We are now trading within an established internal range.
Intraday expectation: Price has printed bearish CHoCH, which is denoted with a blue dotted line. This has indicated, but not confirmed bearish pullback initiation.
Price to react at discount of 50% EQ (which is marked in blue) or H4 POI before targeting weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bullish iBOS followed by a bearish iBOS. I am presuming the volatility has been caused by ECB's Schnabel speaking.
Intraday expectation: Price to continue bearish, react at nested H4 and M15 POI's before targeting weak internal high.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish which is the strongest confirmation yet that swing pullback is complete.
We are now expecting price to pullback. As price has traded higher the CHoCH has been repositioned closer to current price action.
We are now trading within an established internal range.
Intraday expectation: Price has printed bearish CHoCH, which is denoted with a blue dotted line. This has indicated, but not confirmed bearish pullback initiation.
Price to react at discount of 50% EQ (which is marked in blue) or H4 POI before targeting weak internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bullish iBOS followed by a bearish iBOS. I am presuming the volatility has been caused by ECB's Schnabel speaking.
Intraday expectation: Price to continue bearish, react at nested H4 and M15 POI's before targeting weak internal high.
M15 Chart:
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