XAU/USD 02 May 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bearish.
-> Internal: Bearish.
Price has now printed a bearish BOS and iBOS as price needed a pullback from all HTF's
Following the shift in structure we now expect price to pullback. First indication, but not confirmation, of pullback initiation would be for price to print a bearish CHoCH which is denoted with a blue dashed line.
Price is reacting at H4 demand level.
Price remains in pullback phase and is now is discount of internal structure where it is expected the strong low to hold.
As per yesterday's intraday expectation, price was to print bullish CHoCH, reach 50% of internal EQ before targeting weak internal low. Price did print bullish CHOCH and reach 50% EQ.
Intraday expectation : Price to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
Price pulled back into 50% EQ but failed to close above weak internal high.
Price has now pulled back into the extreme of the internal low where we are currently seeing a bullish reaction and it is expected for the internal low to hold.
Intraday expectation: Price to target weak internal high.
However, H4 is bearish, therefore, it would not be unrealistic for price to target swing low priced at 2281.680.
M15 Chart:
-> Swing: Bearish.
-> Internal: Bearish.
Price has now printed a bearish BOS and iBOS as price needed a pullback from all HTF's
Following the shift in structure we now expect price to pullback. First indication, but not confirmation, of pullback initiation would be for price to print a bearish CHoCH which is denoted with a blue dashed line.
Price is reacting at H4 demand level.
Price remains in pullback phase and is now is discount of internal structure where it is expected the strong low to hold.
As per yesterday's intraday expectation, price was to print bullish CHoCH, reach 50% of internal EQ before targeting weak internal low. Price did print bullish CHOCH and reach 50% EQ.
Intraday expectation : Price to target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS.
Price pulled back into 50% EQ but failed to close above weak internal high.
Price has now pulled back into the extreme of the internal low where we are currently seeing a bullish reaction and it is expected for the internal low to hold.
Intraday expectation: Price to target weak internal high.
However, H4 is bearish, therefore, it would not be unrealistic for price to target swing low priced at 2281.680.
M15 Chart:
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