XAU/USD 23 April 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has now printed a bearish which confirms the initiation of pullback which was needed by all HTF's.
Following the bearish iBOS we now expect price to pullback.
Intraday expectation would be for price to retrace to H4 POI or 50% EQ to then target weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has printed a series bearish iBOS' which was expected as per yesterday's analysis.
We are currently trading within an internal high and fractal low with bullish CHoCH being positioned at the same level of the internal high.
Price has tapped in to M15 Demand area where we saw a reaction.
Intraday expectation would be for price to retrace to either 50% EQ or nested H4 and M15 POI's before targeting weak internal low.
M15 Chart:
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