XAU/USD 18 Jan 2024 Intraday Analysis
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
First structural sign of pullback initiation was the bearish iBOS. Price pulled back to beyond EQ where we saw reaction at POI's.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure is bearish. After iBOS we expect pullback which is underway. CHoCH and H4 supply POI where price is anticipated to react, however, it is to be approached with caution as POI is positioned in discount.
Price did as anticipated with weak internal low being targeted priced at 2013.390.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
First structural sign of pullback initiation was the bearish iBOS. Price pulled back to beyond EQ where we saw reaction at POI's.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure is bearish. After iBOS we expect pullback which is underway. CHoCH and H4 supply POI where price is anticipated to react, however, it is to be approached with caution as POI is positioned in discount.
Price did as anticipated with weak internal low being targeted priced at 2013.390.
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