Khan_YIK

XAU/USD 13 May 2024 Intraday Analysis

OANDA:XAUUSD   Gold Spot / U.S. Dollar
H4 Analysis:

Bias/Analysis remains the same as analysis dated 12 May 2024.

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

Price has printed a bullish BOS.

After bullish BOS expectation is for price to pullback.

We have nested Daily and H4 supply levels where price is expected to initiate pullback.

CHoCH is positioned at quite a distance away from current price, therefore, there is a possibility price could engineer a CHoCH closer to current price to indicate initiation of pullback.

Previous intraday expectation dated 10 May 2024 was for price to continue bullish, react at nested Daily and H4 POI levels to start pullback phase which price is indicated as printing.

Intraday expectation: Price to continue bearish, react at discount of 50% EQ or H4 POI, both of which are closely positioned before targeting weak internal high.

H4 Chart:
M15 Analysis:

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

Price has printed a printed a bullish BOS and iBOS

After BOS we 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 dotted line.

Intraday expectation dated 10 May 2024 was for price to react at nested Daily and H4 POI levels to initiate pullback, which price did.

Current Intraday expectation: Price to react at M15 POI, discount zone of 50% EQ or H4 POI before targeting weak internal high.

M15 Chart: