Candle Pattern: Morning Star
Trend: down
Trend Entry: against
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .764
Fib TP: .50
Stochastic: over-sold
MACD Histogram: contracting up
200SMA: Below
Inside EMA/SMA zone: no
BB: bottom
Pivot Point: S1 && S2
Elliot Wave:
finishing the completion of wave 4
Looking for final move up to complete wave 5
Notes:
posted a little late, trade opened while away from computer
Morning star forming under 200SMA. Going against the new trend, however I think its still uptrend on higher time frame and final completion of elliot wave 5 1HR
Morning star almost at 100% fib from previous swing low
stochastic showing oversold with a double dip
macd showing slowed downside momentum
What can go wrong:
might see price completely go past the swing low and that would invalidate the upside elliot direction.
would have to reconsider downtrend and wave 3 as the start of downside elliot
Trend: down
Trend Entry: against
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .764
Fib TP: .50
Stochastic: over-sold
MACD Histogram: contracting up
200SMA: Below
Inside EMA/SMA zone: no
BB: bottom
Pivot Point: S1 && S2
Elliot Wave:
finishing the completion of wave 4
Looking for final move up to complete wave 5
Notes:
posted a little late, trade opened while away from computer
Morning star forming under 200SMA. Going against the new trend, however I think its still uptrend on higher time frame and final completion of elliot wave 5 1HR
Morning star almost at 100% fib from previous swing low
stochastic showing oversold with a double dip
macd showing slowed downside momentum
What can go wrong:
might see price completely go past the swing low and that would invalidate the upside elliot direction.
would have to reconsider downtrend and wave 3 as the start of downside elliot
Trade closed: target reached
TP reached in 12HNote
approaching end of wave 5 zoneabout 30 pips away to reach downside wave 4 zone
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.