Scenario 1. If the daily candle closes above this line. Potential Long Entry. Target 1 : 1.06, If the counter-trend line is broken, further bullish moves expected. Braking the counter trendline - next target would be 1.07 followed by 1.08 & 1.095.
Scenario 2. If the daily candle closes below this line - Potential Target could be 1.04.
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Morning Star Pattern Forming on Daily TF.
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Price retraces, waiting for counter-trend line PA broke/rejection.Multiple confirmations on 4h timeframe : potential bullish crossline between EMA & SMA, Evening star Pattern + bullish engulfing. s3.amazonaws.com/tradingview/snapshots/v/Vl5GQjw8.png