Khan_YIK

XAU/USD 01 May 2024 Intraday Analysis

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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.

Intraday expectation: Price to print bullish CHoCH, reach 50% of internal EQ before targeting weak internal low.

H4 Chart:
M15 Analysis:

-> Swing: Bullish.
-> Internal: Bearish.

Price has printed a series of bearish iBOS'.

Following bullish iBOS price is expected to pullback which price did printing a bullish CHoCH.

Intraday expectation: Price to target weak internal low.

Another alternative could be that price prints bullish iBOS as H4 remains in bullish pullback phase.

M15 Chart:

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