XAU/USD 12 March 2024 Intraday Analysis
H4 Analysis:
Analysis/Bias remains the same as yesterdays post dated 11/03/2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS and subsequently a bullish iBOS.
We are now trading within a fractal high and internal low.
Expectation is for price to pullback to H4 POI and 50% EQ, both of which are located at the same position, before targeting internal high.
Bearish CHoCH, which is the first structural indication, but not confirmation that bearish pullback is underway, will indicate pullback initiation.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has printed a bullish swing BOS and subsequently a bullish iBOS.
Due to the size of the internal range I have plotted sub-internal structure which is denoted in red.
50% EQ of the internal range is also denoted in red.
Price has printed a bearish CHoCH and bearish iCHoCH which indicates, but not confirms, that pullback is underway.
Intraday expectation is for price to continue bearish, react at M15 POI before targeting weak internal high.
However, it would be useful to remember that all HTF's are requiring a pullback.
M15 Chart:
Analysis/Bias remains the same as yesterdays post dated 11/03/2024.
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS and subsequently a bullish iBOS.
We are now trading within a fractal high and internal low.
Expectation is for price to pullback to H4 POI and 50% EQ, both of which are located at the same position, before targeting internal high.
Bearish CHoCH, which is the first structural indication, but not confirmation that bearish pullback is underway, will indicate pullback initiation.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has printed a bullish swing BOS and subsequently a bullish iBOS.
Due to the size of the internal range I have plotted sub-internal structure which is denoted in red.
50% EQ of the internal range is also denoted in red.
Price has printed a bearish CHoCH and bearish iCHoCH which indicates, but not confirms, that pullback is underway.
Intraday expectation is for price to continue bearish, react at M15 POI before targeting weak internal high.
However, it would be useful to remember that all HTF's are requiring a pullback.
M15 Chart:
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