XAU/USD 20 June 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias remains the same analysis dated 17 June 2024
-> Swing: Bullish.
-> Internal: Bearish.
Price traded to the downside, however, price was unable to breach and close below weak internal low where we saw a reaction at a H4 demand level.
Nonetheless, internal structure remains bearish, therefore, price should technically target weak internal low.
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 targeted the weak internal high 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 M15 POI or discount of 50% EQ before targeting weak internal high.
M15 Chart:
Analysis/Bias remains the same analysis dated 17 June 2024
-> Swing: Bullish.
-> Internal: Bearish.
Price traded to the downside, however, price was unable to breach and close below weak internal low where we saw a reaction at a H4 demand level.
Nonetheless, internal structure remains bearish, therefore, price should technically target weak internal low.
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 targeted the weak internal high 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 M15 POI or discount of 50% EQ before targeting weak internal high.
M15 Chart:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.