Price printed a bullish iBOS followed by bullish BOS following the Fed's dovish outlook on interest rates last week.
Price printed a bearish CHoCH, indicating, but not confirming, that pullback has initiated. This is also a requirement for all HTF's
Analysis on 22/02/2024 was for price to indicate initiation of pullback by printing a bearish CHoCH which was denoted with a blue dotted line. Price printed this.
Due to the size of the internal range I plotted sub-internal range, which is denoted in red, to gain a micro-view of price action.
Sub-internal structure has now switched bullish in-line with internal and swing structure.
Intraday expectation is for price to target weak internal high which is denoted by blue dashed line.
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