XAU/USD 05 June 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bearish iBOS.
Price has also printed a bullish CHoCH which indicates, but not confirms bullish pullback following bearish iBOS.
Price is now trading within an internal range.
Price reacted from premium of 50% EQ, however, price was unable to close below.
Intraday expectation: Price has once again reacted from internal 50% EQ and should target the weak internal low, which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS followed by a bearish CHoCH which indicates, but not confirms bearish pullback initiation.
Intraday expectation: Price has reacted from discount of 50% EQ, therefore, technically price should target weak internal high.
An alternative scenario would be for price to continue bearish, react at M15 POI before targeting weak internal high.
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a bearish iBOS.
Price has also printed a bullish CHoCH which indicates, but not confirms bullish pullback following bearish iBOS.
Price is now trading within an internal range.
Price reacted from premium of 50% EQ, however, price was unable to close below.
Intraday expectation: Price has once again reacted from internal 50% EQ and should target the weak internal low, which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS followed by a bearish CHoCH which indicates, but not confirms bearish pullback initiation.
Intraday expectation: Price has reacted from discount of 50% EQ, therefore, technically price should target weak internal high.
An alternative scenario would be for price to continue bearish, react at M15 POI before targeting weak internal high.
M15 Analysis:
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