H4 Analysis:
Bias/Analysis remains unchanged since last analysis dated 22/03/2024
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed a bullish 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 is for price to react H4 POI to then target fractal high.
Because of the need for HTF's requiring a pullback, another potential scenario would be for price to continue bearish and print a bearish iBOS which would then indicate the Daily pullback has initiated.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Sub-Internal: Bearish
Price has printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates yesterday.
Price printed a bearish CHoCH, indicating, but not confirming, that pullback has initiated. This is also a requirement for all HTF's
Analysis on 22/02/2024 was for price to indicate initiation of pullback by printing a bearish CHoCH which was denoted with a blue dotted line. Price printed this.
Due to the size of the internal range I have plotted sub-internal range, which is denoted in red, to gain a micro-view of price action.
Sub-internal structure is bearish.
However, due to the requirement for all HTF's requiring a pullback, an alternative scenario would be for price to print a bearish swing BOS which would then confirm the initiation of H4 pullback.
From a sub-internal intraday bias and perspective, price to react at 50% EQ or potentially strong internal high before targeting weak internal low.
An alternative potential scenario would be for price to print a bullish iiBOS which would then align both both swing and internal structure for price to target weak internal high.
M15 Chart:
Bias/Analysis remains unchanged since last analysis dated 22/03/2024
-> Swing: Bullish.
-> Internal: Bullish.
Gold continues it's bullish run following the Fed's dovish outlook on interest rates.
Price has printed a bullish 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 is for price to react H4 POI to then target fractal high.
Because of the need for HTF's requiring a pullback, another potential scenario would be for price to continue bearish and print a bearish iBOS which would then indicate the Daily pullback has initiated.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Sub-Internal: Bearish
Price has printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates yesterday.
Price printed a bearish CHoCH, indicating, but not confirming, that pullback has initiated. This is also a requirement for all HTF's
Analysis on 22/02/2024 was for price to indicate initiation of pullback by printing a bearish CHoCH which was denoted with a blue dotted line. Price printed this.
Due to the size of the internal range I have plotted sub-internal range, which is denoted in red, to gain a micro-view of price action.
Sub-internal structure is bearish.
However, due to the requirement for all HTF's requiring a pullback, an alternative scenario would be for price to print a bearish swing BOS which would then confirm the initiation of H4 pullback.
From a sub-internal intraday bias and perspective, price to react at 50% EQ or potentially strong internal high before targeting weak internal low.
An alternative potential scenario would be for price to print a bullish iiBOS which would then align both both swing and internal structure for price to target weak internal high.
M15 Chart:
