XAU/USD 06 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.
Price is now trading within an internal low and fractal high.
We are now expecting price to pullback.
Intraday expectation: Price to print bearish CHoCH, which is denoted with a blue dotted line. This will indicate, but not confirm bearish pullback initiation.
Price to react at discount of 50% EQ or H4 POI before targeting weak internal high, which is presently the fractal high.
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.
Due to the volatility caused by high impact news price has been printing very close bullish and bearish iBOS' which have been mechanically mapped.
Intraday expectation: Price to continue bearish, react at discount of 50% EQ or 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.
Price is now trading within an internal low and fractal high.
We are now expecting price to pullback.
Intraday expectation: Price to print bearish CHoCH, which is denoted with a blue dotted line. This will indicate, but not confirm bearish pullback initiation.
Price to react at discount of 50% EQ or H4 POI before targeting weak internal high, which is presently the fractal high.
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.
Due to the volatility caused by high impact news price has been printing very close bullish and bearish iBOS' which have been mechanically mapped.
Intraday expectation: Price to continue bearish, react at discount of 50% EQ or nested H4 and M15 POI's before targeting weak internal high.
M15 Chart:
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