H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed an iBOS where we are currently trading within a fractal high and internal low.
Relative to recent price action of the swing range, I have readjusted bullish BOS to bullish iBOS.
Intraday expectation would be for price to show signs of pullback initiation, which have yet to occur, or, price could react at 50% EQ before continuing bullish to create new highs.
Another potential scenario would be for price to continue bullish from current price, create a new high which would bring the CHoCH closer to very most recent price action allowing Gold to pullback without the need to pullback so deep as current CHoCH location which is denoted in blue dotted line slightly above the internal low, is a significant distance away from current price.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates yesterday.
Price is currently trading within a fractal high and low.
Intraday expectation would be for price to indicate initiation of pullback by printing a bearish CHoCH which is denoted with blue dotted lines.
Alternatively, and much like H4, price could continue bullish to create new highs in order to bring CHOCH closer to the very most recent price action. This would Gold to initiate first structural signs of pullback without the need to significantly pull back.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed an iBOS where we are currently trading within a fractal high and internal low.
Relative to recent price action of the swing range, I have readjusted bullish BOS to bullish iBOS.
Intraday expectation would be for price to show signs of pullback initiation, which have yet to occur, or, price could react at 50% EQ before continuing bullish to create new highs.
Another potential scenario would be for price to continue bullish from current price, create a new high which would bring the CHoCH closer to very most recent price action allowing Gold to pullback without the need to pullback so deep as current CHoCH location which is denoted in blue dotted line slightly above the internal low, is a significant distance away from current price.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates yesterday.
Price is currently trading within a fractal high and low.
Intraday expectation would be for price to indicate initiation of pullback by printing a bearish CHoCH which is denoted with blue dotted lines.
Alternatively, and much like H4, price could continue bullish to create new highs in order to bring CHOCH closer to the very most recent price action. This would Gold to initiate first structural signs of pullback without the need to significantly pull back.
M15 Chart:
