Candle Pattern: Morning Star
Trend: up
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .764
Fib TP: .236
Stochastic: over-sold
MACD Histogram: contracting up
200SMA: slightly below
Inside EMA/SMA zone: no
BB: bottom
Pivot Point: S1
Elliot Wave:
possible bottom zone of the wave 4 in upside elliot wave.
hoping this is the start of wave 5
Notes:
Late post, Entry made overnight. Already in profit at posting.
morning stars formed around the 764 fib retracement and at the 200 sma. I set my entry at the .764 and waited for the second retry to the low for entry.
stochastic showing oversold
macd still showing decrease in downside momentum
Looking for a TP around wave 3 high
What can go wrong:
its possible this is actually an ABC correction for a very short wave 5 and might see a small upside move to create point B with a final move to create point C in my SL zone.
Trend: up
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .764
Fib TP: .236
Stochastic: over-sold
MACD Histogram: contracting up
200SMA: slightly below
Inside EMA/SMA zone: no
BB: bottom
Pivot Point: S1
Elliot Wave:
possible bottom zone of the wave 4 in upside elliot wave.
hoping this is the start of wave 5
Notes:
Late post, Entry made overnight. Already in profit at posting.
morning stars formed around the 764 fib retracement and at the 200 sma. I set my entry at the .764 and waited for the second retry to the low for entry.
stochastic showing oversold
macd still showing decrease in downside momentum
Looking for a TP around wave 3 high
What can go wrong:
its possible this is actually an ABC correction for a very short wave 5 and might see a small upside move to create point B with a final move to create point C in my SL zone.
Trade active
moving SL to break evenTrade closed: stop reached
closed at breakevennot enough momentum to the upside
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.
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.