XAU/USD 10 July 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Following bullish iBOS price has not pulled back significantly enough to indicate bearish pullback initiation.
This could indicate that price is seeking further liquidity to fuel its drive down.
Price could also create a new high, higher than the fractal high to bring CHoCH positioning closer to current price action.
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 as price has failed to print bearish CHoCH or reach discount of 50% EQ.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation of price targeting weak internal low was met, however, price was unable to close below.
Intraday expectation: Strong internal high to remain protected, price to react at M15 supply zone before targeting weak internal low.
M15 Chart:
