XAU/USD 04 June 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has now printed a bullish CHoCH which indicates, but not confirms pullback following bearish iBOS.
Price is now trading within an internal range.
Bullish pullback was assisted by reaction from H4 and Daily nested demand zones.
Yesterday intraday expectation was for price to pullback and print bullish CHoCH which was denoted with a blue dotted line. Price to trade up to premium of 50% or H4 supply zone before targeting weak internal low which is denoted with a blue dashed line. Price did exactly as expected.
Intraday expectation: Price to target fractal low which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price had printed a double bullish iBOS before printing a bearish iBOS.
Intraday expectation: Price to pullback to either premium of 50% EQ or M15 supply zones before targeting weak internal low which is denoted with a blue dashed line.
An alternative scenario would be for price to continue bearish, react at M15 POI before pullback initiation . This would bring the CHoCH closer to current price allowing a more realistic indication of pullback initiation. The CHoCH is currently positioned at the same level as the M15 supply zone.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bearish.
Price has now printed a bullish CHoCH which indicates, but not confirms pullback following bearish iBOS.
Price is now trading within an internal range.
Bullish pullback was assisted by reaction from H4 and Daily nested demand zones.
Yesterday intraday expectation was for price to pullback and print bullish CHoCH which was denoted with a blue dotted line. Price to trade up to premium of 50% or H4 supply zone before targeting weak internal low which is denoted with a blue dashed line. Price did exactly as expected.
Intraday expectation: Price to target fractal low which is denoted with a blue dashed line.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price had printed a double bullish iBOS before printing a bearish iBOS.
Intraday expectation: Price to pullback to either premium of 50% EQ or M15 supply zones before targeting weak internal low which is denoted with a blue dashed line.
An alternative scenario would be for price to continue bearish, react at M15 POI before pullback initiation . This would bring the CHoCH closer to current price allowing a more realistic indication of pullback initiation. The CHoCH is currently positioned at the same level as the M15 supply zone.
M15 Chart:
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