R2R-James

morning star daily candle structure.

Long
FX:CHFJPY   Swiss Franc / Japanese Yen
on the larger weekly/ daily time frame we see price respecting a channel trend line currently sitting right on the bottom of it now. So on the daily time frame you can see we had 2 previous rejections, the third now confirmed as a morning star candle formation. What i expect to happen would be a nice rejection off this area price is currently at, id be looking to get the fib tool and looking for a small retracement before the big long opportunities are there and the bulls come in full force to push this back up.