XAU/USD 21 June 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price is reacting at premium of 50% EQ of the swing range, which is marked in black.
Price could potentially continue to trade bullish, react at either premium of 50% EQ or H4 supply level before targeting weak internal low.
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 to target weak internal low
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As per expectation price reacted at the M15 POI and printed a bullish iBOS
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Intraday expectation: Price to either react at discount of 50% or M15 EQ before targeting weak internal high.
It is important to keep in mind that H4 is in bearish pullback phase, as are all other HTF's, therefore, price could target strong internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bearish.
Price is reacting at premium of 50% EQ of the swing range, which is marked in black.
Price could potentially continue to trade bullish, react at either premium of 50% EQ or H4 supply level before targeting weak internal low.
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 to target weak internal low
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
As per expectation price reacted at the M15 POI and printed a bullish iBOS
Price has printed a bearish CHoCH indicating, but not confirming bearish pullback initiation following bullish iBOS.
Intraday expectation: Price to either react at discount of 50% or M15 EQ before targeting weak internal high.
It is important to keep in mind that H4 is in bearish pullback phase, as are all other HTF's, therefore, price could target strong internal low.
M15 Chart:
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