Yes especially over the last 5 days the bears have been firmly...

Yes especially over the last 5 days the bears have been firmly in the drivers seat and there's a 15 minute chart below to show just how tightly they are gripping the wheel. Every pivot up and pivot down is a clutch moment for bulls or bears and on the daily chart they happen frequently. If bulls are going to grab the wheel about now would be a good opportunity, but they are running out of room to take control and spin this price around...

Supporting the lower edge of the zone shown by the yellow eggs at $1.32, there is a distinct volume shelf down to $1.295 where it would make sense for demand to make a strong appearance if its there. If it's not, then any move below $1.28 will register a lower low and align the daily directional bias more tightly with the weekly chart, which looks to have it's sights set on having a look at the $1.185-$1.195 level.

Here's an updated daily chart:


You can only play what's in front of you and just quietly LTR has been known in the past to change direction in a couple of hours let alone a couple of days so nothing is set in stone. But so far especially over the last 5 days there's no evidence of demand strong enough to hint that price will reverse- so what might we be looking for? Often the first sign of a potential reversal is another down bar but one which makes much less progress but on higher volume- suggesting demand appearing. Or maybe a change of character in the daily trading.

I mean, look at this 15 minute chart which really just shows how well structured from a charting POV the last 7 of 8 days have been. Since the last up day, 3 of the last 5 days have gapped up on open only to be forced down again to below the previous days close. After that, each feeble attempt to get back above has been robustly defended by the sellers right at the level of the previous close. This kind of behaviour has to change (!) on the intraday chart before we'll see a change on the daily, then weekly charts...

(I was trying on a dark background chart while doing this- looks a bit weird to what I'm used to)

Good luck all.