XAU/USD 09 May 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bearish.
-> Internal: Bearish.
Price has now printed a bearish BOS and iBOS as price needed a pullback from all HTF's
Following the shift in structure we now expect price to pullback. First indication, but not confirmation, of pullback initiation would be for price to print a bearish CHoCH which is denoted with a blue dashed line.
Price is currently reacting at premium of EQ of the internal structure where it is expected the strong high will hold.
Intraday expectation : From a bearish structural perspective price to target weak internal low.
H4 Chart:
M15 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 08 May 2023
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a printed a bullish iBOS
Bearish CHoCH has been printed which indicates, but not confirms, that we are in pullback phase.
Intraday expectation: Price to react at 50% or M15 POI before targeting weak internal high.
However, due to the bearish structure of H4 it would not be unrealistic for price to target swing low.
M15 Chart:
-> Swing: Bearish.
-> Internal: Bearish.
Price has now printed a bearish BOS and iBOS as price needed a pullback from all HTF's
Following the shift in structure we now expect price to pullback. First indication, but not confirmation, of pullback initiation would be for price to print a bearish CHoCH which is denoted with a blue dashed line.
Price is currently reacting at premium of EQ of the internal structure where it is expected the strong high will hold.
Intraday expectation : From a bearish structural perspective price to target weak internal low.
H4 Chart:
M15 Analysis:
Analysis/Bias remains the same as yesterdays analysis dated 08 May 2023
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a printed a bullish iBOS
Bearish CHoCH has been printed which indicates, but not confirms, that we are in pullback phase.
Intraday expectation: Price to react at 50% or M15 POI before targeting weak internal high.
However, due to the bearish structure of H4 it would not be unrealistic for price to target swing low.
M15 Chart:
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