H4:
-> Swing: Bullish.
-> Internal Bearish.
-> Has reached EQ.
After the swing BOS price aggressively moved to the upside.
Price printed double bullish iBOS to confirm swing pullback phase is complete.
Currently internal structure remains bearish and trading sideways in a large internal range.
Expectation remains as yesterday, for price to continue to trade bearish to target weak internal low.
M15:
-> Swing: Bullish.
-> Internal: Bearish.
-> Has reached EQ.
Following swing BOS price very aggressively pushed to the upside.
Currently price has printed a bearish iBOS where we are now in the pullback phase.
Price has printed a bullish CHoCH which is the first sign (but not confirmation) that internal pullback has initiated. Internal EQ is marked in green.
Sub-structure to internal structure is marked in red where price has printed a bearish iiBOS in line with the internal structure as it is anticipated that price will target M15 internal low as per analysis since Monday this week.
Yesterday's ECB interest rate decision to pause did little to push XAU/USD out of the sub-internal range.
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