XAU/USD 15 March 2024 Intraday Analysis
H4 Analysis:
Analysis/bias remains unchanged from yesterday's 14/03/2024) analysis
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a swing BOS and subsequently a bullish iBOS.
Bearish CHoCH has been printed.
We are now trading within an internal range.
As mentioned 11/03/2024, bearish CHoCH, which is the first structural indication, but not confirmation that bearish pullback is underway, will indicate pullback initiation has now been printed.
Bearish iBOS will provide confirmation that pullback is underway.
Due to the bullish nature of the market, Intraday expectation is for price to target internal high, however, all HTF's are indicating the need for a pullback, therefore, a second potential scenario could be price targeting internal low to confirm pullback is now underway.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has now printed a bearish iBOS which confirms comments made on 12 March 2024 that it would be useful to remember that all HTF's are requiring a pullback.
Price did try to target weak internal low, as per my comments made yesterda however, we saw price react at an M15 POI.
Intraday expectation is for price to react again at 50% EQ, which price is currently doing, or react in premium of 50% EQ, before targeting weak internal low.
M15 Chart:
Analysis/bias remains unchanged from yesterday's 14/03/2024) analysis
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a swing BOS and subsequently a bullish iBOS.
Bearish CHoCH has been printed.
We are now trading within an internal range.
As mentioned 11/03/2024, bearish CHoCH, which is the first structural indication, but not confirmation that bearish pullback is underway, will indicate pullback initiation has now been printed.
Bearish iBOS will provide confirmation that pullback is underway.
Due to the bullish nature of the market, Intraday expectation is for price to target internal high, however, all HTF's are indicating the need for a pullback, therefore, a second potential scenario could be price targeting internal low to confirm pullback is now underway.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bearish.
Price has now printed a bearish iBOS which confirms comments made on 12 March 2024 that it would be useful to remember that all HTF's are requiring a pullback.
Price did try to target weak internal low, as per my comments made yesterda however, we saw price react at an M15 POI.
Intraday expectation is for price to react again at 50% EQ, which price is currently doing, or react in premium of 50% EQ, before targeting weak internal low.
M15 Chart:
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