XAU/USD 29 Feb 2024 Intraday Analysis
H4 Analysis:
Expectation remains the same as per analysis yesterday (28/02/2024)
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-Internal: Bullish.
-> Has reached EQ.
I have marked sub-internal in red due to the significant range of the internal structure.
Price has printed a bullish sub-internal iiBOS. which indicates that we are still in the pullback phase of the internal structure.
We now seem to be in the pullback phase of the iiBOS.
Price reacted to the 50% EQ of the swing range, which is indicated in black to form bearish price action.
Current expectation, is for price to target weak internal low. A good indication that pullback phase of the internal structure is complete is once price breaks and closes below sub-internal structure low to target the weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has printed a bullish iBOS. Internal range established.
POI marked with red border is a flip-zone where price mitigated and continued bullish.
Price reacted to the flip-zone again and continued bullish.
Intraday expectation is for price to continue bullish to target weak internal high.
M15 Chart:
Expectation remains the same as per analysis yesterday (28/02/2024)
-> Swing: Bullish.
-> Internal: Bearish.
-> Sub-Internal: Bullish.
-> Has reached EQ.
I have marked sub-internal in red due to the significant range of the internal structure.
Price has printed a bullish sub-internal iiBOS. which indicates that we are still in the pullback phase of the internal structure.
We now seem to be in the pullback phase of the iiBOS.
Price reacted to the 50% EQ of the swing range, which is indicated in black to form bearish price action.
Current expectation, is for price to target weak internal low. A good indication that pullback phase of the internal structure is complete is once price breaks and closes below sub-internal structure low to target the weak internal low.
H4 Chart:
M15 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
-> Has reached EQ.
Price has printed a bullish iBOS. Internal range established.
POI marked with red border is a flip-zone where price mitigated and continued bullish.
Price reacted to the flip-zone again and continued bullish.
Intraday expectation is for price to continue bullish to target weak internal high.
M15 Chart:
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