XAU/USD 07/03/2024 Intraday Analysis
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS and subsequently a bearish CHoCH which is the first structural indication, but not confirmation that bearish pullback is underway.
Expectation is for price to pullback to H4 POI or 50% EQ before targeting internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has now printed a bullish swing BOS.
Swing high yet to be confirmed, therefore, we are trading within an internal range until we have confirmation of swing high.
Intraday expectation is for price to continue bullish to target swing high.
Price could potentially target M15 POI before continuing bullish.
However, request from HTF is for price to switch bearish to facilitate HTF pullback, therefore, a scenario is for price to target internal low.
M15 Chart:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a swing BOS and subsequently a bearish CHoCH which is the first structural indication, but not confirmation that bearish pullback is underway.
Expectation is for price to pullback to H4 POI or 50% EQ before targeting internal high.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has now printed a bullish swing BOS.
Swing high yet to be confirmed, therefore, we are trading within an internal range until we have confirmation of swing high.
Intraday expectation is for price to continue bullish to target swing high.
Price could potentially target M15 POI before continuing bullish.
However, request from HTF is for price to switch bearish to facilitate HTF pullback, therefore, a scenario is for price to target internal low.
M15 Chart:
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.