I'm seeing a lot of what looks like reversal patterns forming on the daily charts in the forex market, but rather than trading the reversal, I'm waiting for the reversal to end and a resumption of what I would regard as the trend.
The GBP/CHF is just one example -- there's a confluence of multiple Fibonacci levels at a support line near the 50-SMA. If price can fall to that level -- and candlesticks signal buyers are stepping in at that time -- I'll be looking to go long.
GBP/CHF" width="1246" height="660">