XAU/USD 18 April 2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price remains contained within an internal range where we saw a reaction from H4 supply with price unable to close below strong internal low.
Price reacted at H4 supply and subsequently reacted at H4 demand.
Price is currently between H4 supply and demand where we are seeing a battle between the bulls and bears with price printing an internal bearish CHoCH.
The prevailing trend, which is bullish, would be a factor, therefore, current intraday expectation is for price to react at H4 demand level to target weak internal high, however, because price has printed a bearish CHoCH an alternative scenario could be for the price breach and close below internal low as all HTF's require a pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-internal: Bullish.
Price has printed a bearish iBOS followed by a bullish CHoCH which indicates, but not confirms, on an intraday perspective, that pullback phase following bearish IBOS has started.
I have also mapped sub-internal structure to gain a micro-view of price where sub-internal structure is bullish.
Current intraday expectation would be for price to react at 50% EQ or H4, M15 POI before targeting weak internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Price remains contained within an internal range where we saw a reaction from H4 supply with price unable to close below strong internal low.
Price reacted at H4 supply and subsequently reacted at H4 demand.
Price is currently between H4 supply and demand where we are seeing a battle between the bulls and bears with price printing an internal bearish CHoCH.
The prevailing trend, which is bullish, would be a factor, therefore, current intraday expectation is for price to react at H4 demand level to target weak internal high, however, because price has printed a bearish CHoCH an alternative scenario could be for the price breach and close below internal low as all HTF's require a pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-internal: Bullish.
Price has printed a bearish iBOS followed by a bullish CHoCH which indicates, but not confirms, on an intraday perspective, that pullback phase following bearish IBOS has started.
I have also mapped sub-internal structure to gain a micro-view of price where sub-internal structure is bullish.
Current intraday expectation would be for price to react at 50% EQ or H4, M15 POI before targeting weak internal low.
M15 Chart:
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