XAU/USD 08 March 2024 Intraday Analysis

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H4 Analysis:

-> Swing: Bullish.
-> Internal: Bearish.

Price had printed a swing BOS and subsequently a bullish iBOS.

Swing range confirmed.

Price has now printed a bearish iBOS to confirm swing pullback has initiated and is underway.

Scenario 2 played out from previous analysis whereby it was mentioned price could target internal low as all HTF's are requiring a pullback.

Intraday expectation is for price to continue bullish, react at either 50% EQ or H4 POI before targeting weak internal low.

H4 Chart: imagen

M15 Analysis:

-> Swing: Bullish.
-> Internal: Bearish.

Price has now printed a further 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.

Pullback following bearish is underway .

Intraday expectation is for price to react at M15 POI, or 50% EQ before targeting weak internal low.

M15 Chart: imagen

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