Weekly Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price printed a bullish internal iBOS followed by a bullish swing BOS.
Most likely scenario would be for price to pull back following bullish internal and swing BOS (Break Of Structure)
First structural indication, but not confirmation of pullback initiation would be for price to print a bearish CHoCH which is denoted by a blue vertical dotted line.
Price has been unable to print a bearish CHoCH and has reacted from premium 50% EQ of the internal low and fractal high.
Forthcoming week's expectation is for price to continue bullish, create a new high which would bring CHoCH closer to current price action allowing for price to indicate pullback initiation closer to current price action.
Weekly Chart:
Daily Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has printed a bullish swing BOS. Swing low confirmed and adjusted with swing high yet to be established.
Since bullish swing and internal break of structure price has not, as yet, pulled back in to discount of 50% EQ. Both swing and internal 50% EQ are located very close-by.
An attempt was made on May 24 to break structure to the upside, however, price failed to close above.
This could indicate price needed more liquidity to fuel it's drive to the downside which failed after reacting from a daily demand zone.
Expectation is for price to continue bullish and react at daily demand zone before pullback initiation.
Daily Chart:
H4 Analysis:
-> Swing: Bullish.
-> Internal: Bullish.
Price has continued bullish and printed a bullish iBOS aligning itself with swing structure.
Intraday expectation: Price to continue bullish and react at daily supply zone. This should being CHoCH close to current price action to indicate bearish pullback initiation.
H4 Chart:
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