Candle Pattern: Evening Star
Trend: down
Trend Entry: With
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .618
Fib TP: .236
Stochastic: over-bought
MACD Histogram: contracting down
200SMA: Above
Inside EMA/SMA zone: yes
BB: top
Pivot Point: Pivot && S1
Elliot Wave:
Looks like we just completed ABC correction of previous elliot wave
If if this is the start of a downside elliot wave we should see a push past C point low to create a new low
If C is the start of new upside elliot wave, we should see a retracement to around the .236 fib of C point before contuniation upside
Notes:
Evening star forming inside ema/sma zone, under 200sma at fib .618 level and just under elliot wave 1 zone
stochastic showing overbought
macd starting to show decrease in upward momentum
What can go wrong:
Might see price enter .764 fib before actual reversal to the downside
might see price stop shy of .236 if this is an upside elliot wave
Trend: down
Trend Entry: With
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .618
Fib TP: .236
Stochastic: over-bought
MACD Histogram: contracting down
200SMA: Above
Inside EMA/SMA zone: yes
BB: top
Pivot Point: Pivot && S1
Elliot Wave:
Looks like we just completed ABC correction of previous elliot wave
If if this is the start of a downside elliot wave we should see a push past C point low to create a new low
If C is the start of new upside elliot wave, we should see a retracement to around the .236 fib of C point before contuniation upside
Notes:
Evening star forming inside ema/sma zone, under 200sma at fib .618 level and just under elliot wave 1 zone
stochastic showing overbought
macd starting to show decrease in upward momentum
What can go wrong:
Might see price enter .764 fib before actual reversal to the downside
might see price stop shy of .236 if this is an upside elliot wave
Trade closed: target reached
target reached in under 2H
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.