Context
W1 and D1 remain bearish. On H4, however, price has recovered from the November low, while H1 and M15 show higher lows. From the current M15 price, we favour further recovery towards two successive resistance areas. This is a recovery within the H4 range, rather than a confirmed D1 reversal. A return below the current wave low would invalidate the primary scenario.
Research scenario · For independent analysis · Not personal investment advice
Plan conditions
Entry: 1.11908 · current M15 price
Target 1: 1.1210–1.1245 Target 2: 1.1250–1.1275 The H1 and M15 recovery from the November low favours a move towards H4 resistance. The bearish D1 structure remains the main opposing argument.
Invalidation: H4 close below 1.1130.