New H4 flip lvl 1.16016 price below is good for bears
- #220,642
- Jan 15, 2026 6:07am Jan 15, 2026 6:07am
- Joined Jun 2018 | Status: Trader | 3,083 Posts
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- #220,645
- Jan 15, 2026 6:54am Jan 15, 2026 6:54am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
In the bigger picture, price is clearly trading within a descending channel (daily chart, purple). It has tagged the lower boundary of that channel almost perfectly (yellow arrow) and has also reached the 61.8% retracement of the November/December rally, which comes in at 1.1598.
Most indicators are now oversold, with the short-term ones being extremely oversold. Overall, these are strong technical arguments in favor of a rebound, especially as long as price can hold above the 1.16 handle.
That said, one always has to be prepared for anything. Still, from a purely technical perspective, there isn’t much room left to the downside. On the other hand, there is plenty of room to the upside again, as the chart clearly shows.
Now it’s a matter of waiting to see where today’s session will close, hopefully over 1.16. My two cents.
Most indicators are now oversold, with the short-term ones being extremely oversold. Overall, these are strong technical arguments in favor of a rebound, especially as long as price can hold above the 1.16 handle.
That said, one always has to be prepared for anything. Still, from a purely technical perspective, there isn’t much room left to the downside. On the other hand, there is plenty of room to the upside again, as the chart clearly shows.
Now it’s a matter of waiting to see where today’s session will close, hopefully over 1.16. My two cents.
I'm Aayush.j- #220,651
- Jan 15, 2026 7:46am Jan 15, 2026 7:46am
- Joined Aug 2024 | Status: Trader | 1,086 Posts
Small inverted Head and shoulder on m5 TF
- #220,657
- Jan 15, 2026 9:11am Jan 15, 2026 9:11am
- Joined Oct 2018 | Status: Risk comes from not knowing what to | 2,234 Posts
Risk comes from not knowing what to do
- #220,659
- Jan 15, 2026 9:47am Jan 15, 2026 9:47am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Focus only on what truly matters!
- #220,660
- Jan 15, 2026 9:55am Jan 15, 2026 9:55am
H1: I am still waiting for selling opportunity but markets went back to snail mode... Still watching! 1.1624 area is key resistance... Nearest bearish target could be 1.1581 area.. {image}