XAU/USD 09 July 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has continued bullish and printed a bullish iBOS aligning itself with swing structure.
Price has evidently begun to pullback following bullish iBOS without mitigating daily supply zone which would question if price has the liquidity to 'fuel' it's drive down.
It would be prudent to stand aside and allow price to confirm it's intention.
Intraday expectation: According to current price action, price to pullback to either discount of 50% EQ of the internal structure (50% EQ denoted in blue) or H4 demand zone before targeting weak internal high. However, I would personally stand aside and allow price to confirm it's intention.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a further bearish iBOS
Technically we are currently trading within an internal high and fractal low with the bullish CHOCH positioned close to the internal high, however, as price has reached premium of 50% EQ I am happy to label the fractal low as an internal low as bullish CHoCH is positioned close the the internal high.
Intraday expectation: Price to target weak internal low.
M15 Chart:
