XAU/USD 10 June 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
As mentioned in yesterday's analysis dated 09 June 2024, price may continue bearish which would bring bullish CHoCH closer to current price action.
Price has now printed this, allowing for a more realistic indication for bullish pullback initiation.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Intraday expectation: Price has now printed bullish CHoCH positioning closer to current price action, therefore, price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a double bearish iBOS.
We are now trading within an internal high and fractal low.
Intraday expectation: Price to print bullish CHoCH to indicate, bullish pullback initiation.
Price to trade up to premium of 50% EQ, or, M15 supply zone before trageting weak internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bearish.
Price has continued to trade to the downside
As mentioned in yesterday's analysis dated 09 June 2024, price may continue bearish which would bring bullish CHoCH closer to current price action.
Price has now printed this, allowing for a more realistic indication for bullish pullback initiation.
Strong swing low is expected to hold, however, it would be worth noting the swing low must be taken as the weekly and daily TF's are both in pullback phase.
Intraday expectation: Price has now printed bullish CHoCH positioning closer to current price action, therefore, price to print bullish CHoCH, trade up to premium of internal 50% EQ before targeting weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a double bearish iBOS.
We are now trading within an internal high and fractal low.
Intraday expectation: Price to print bullish CHoCH to indicate, bullish pullback initiation.
Price to trade up to premium of 50% EQ, or, M15 supply zone before trageting weak internal low.
M15 Chart:
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