Analysis/Intraday expectation to remain the same as analysis dated 18 August 2024.
-> Swing: Bullish. -> Internal: Bullish.
Price has printed a bullish iBOS.
After an iBOS (Internal Break of Structure) we expect a bearish pullback.
Bearish CHoCH positioning is denoted with a blue dotted line.
H4 demand zone is positioned the same as bearish CHoCH positioning.
Intraday expectation: On a candle-to-candle view since iBOS, price is printing higher highs, therefore, wait until price indicates pullback.
H4 Chart:
M15 Analysis:
-> Swing: Bullish. -> Internal: Bullish.
Previous Intraday expectation was met and price has printed a bullish iBOS.
Price has printed bearish CHoCH to indicate bearish pullback phase initiation.
Internal structure has been established and price reacted at discount of 50% EQ, however, price has also failed, as yet, to target weak internal high, therefore, price could potentially be seeking further liquidity and could be targeting M15 demand zone.
Intraday expectation: Technically price should target weak internal high but thus far has failed, therefore, price is perhaps seeking further liquidity (M15 demand zone) to fuel. bullish continuation.
Alternative scenario: We need to be mindful that H4, following bullish iBOS, has yet to initiate bearish pullback, therefore, it would not be unexpected if strong internal low was to be targeted.