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Morning Star

EURUSD 15M long | morning Star Patterntrade entry triggered 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: .50 Stochastic: over-sold MACD Histogram: contracting up 200SMA: below BB: n/a Pivot Point: S1 Elliot Wave: currently at point B in the elliot wave correction after a downside elliot wave move. Looking for the completion of point C around point A Notes: moening star formed around the .764 level and and S1 pivot point stochastic showing oversold macd histogram showing momentum slowing to the downside. Crossover just happened TP Goal around 40 pips but will let it ride as far as possible to point A What can go wrong: since price is below 200SMA, price could continue to the downside making the elliot wave correction invalid. Would have to re-evaluate the elliot wave for a new recount.
Long
by ironcondor
USDCHF 15M long | morning Star PatternCandle 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: 1+ Stochastic: over-sold MACD Histogram: contracting up 200SMA: above Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot Elliot Wave: looks like we are on wave 3 of an elliot wave extention. Looking for a retest of the wave 1 high as wave 4 before continuing to the upside to form wave 5 Notes: Late post, Entry made overnight. Already in profit at posting. at 1am placed an entry at the fib .764 level where my 20 pip sl would overlap the recent swing low, 200sma and overlap into the elliot wave 1 zone. Price was still around the high point of the last swing high. I placed the entry in hopes price goes to the 764 level and continues the upside trend. morning star formed around the 764 fib retracement just shy the 200 sma. stochastic showed oversold at the time and crossing back above the 20 line macd histogram showed momentum slowing to the downside TP Goal around 40 pips What can go wrong: its possible we continue to drop and cancel out the elliot wave extension and just for another retest of the high level elliot wave 1 high.
Long
by ironcondor
AUDCAD 15M long | morning Star PatternCandle 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.
Long
by ironcondor
EURCHF 15M long | morning Star PatternCandle 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: 1 Stochastic: over-sold MACD Histogram: contracting up 200SMA: slightly below Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot && S1 Elliot Wave: Just completed Correction C. If this is a new uptrend extension Im expecting to see a retest to the low but not go past the point C. 1HR stoch showing oversold and MACD showing loss of downside momentum. Notes: double bottom morning stars formed around the 764 fib retracement. 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 Going to try and get at least 40 pips, but will see how momentum is going to the upside and if it looks like we will crack the last swing high What can go wrong: could be an elliot wave to the downside or continued C point Correction low, especially if we break currenct C point
Long
by ironcondor
USDJPY 15M long | morning Star PatternCandle 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: .382 Stochastic: over-sold MACD Histogram: contracting up 200SMA: slightly below Inside EMA/SMA zone: no BB: middle Pivot Point: Pivot && S1 Elliot Wave: just completed wave 4 to the downside of wave 3 looking for an uptick to the 107.40 zone long term Notes: morning star formed around the 764 fib retracement. I set my entry just below the .764 and waited for the second retry to the low for entry. stochastic showing oversold macd still showing decrease in downside momentum What can go wrong: breaking below wave 1 zone would indicate we are not actually in an elliot motive wave to the upside and instead in some form of ABC corrective pattern and throwing my bias completely out the window. SL at a conservative 20 pips which put me just below the wave 1 zone which it shouldnt enter and below the last swing low.
Long
by ironcondor
EURUSD 15M long | morning Star PatternCandle 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: 1+ Stochastic: over-sold MACD Histogram: contracting up 200SMA: above Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot && S1 Elliot Wave: looks like we might be starting a new elliot wave to the upside and just completed wave 2. Looking for a push beyond wave 1 high point. TP set just above wave 1 but expecting a long term upside move above the last elliot wave 5 point high to the upside. Notes: morning star formed around the 618 fib retracement. I set my entry at the .764 below the morning star to allow for better entry stochastic showing oversold with a divergence to the upside macd still showing decrease in downside momentum What can go wrong: TP could be set too high at 40 pips and will consider a smaller TP if we struggle to break wave 1 high point. A move to the downside past point C correction would indication we are actually in a wave 3 to the downside from the previous elliot wave 5 completion.
Long
by ironcondor
AUDUSD 15M Long | Morning Star PatternCandle 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
Long
by ironcondor
EURUSD 15M long | Morning Star PatternCandle Pattern: Morning Star Trend: down Trend Entry: against TP/SL Ratio Target: 3 to 1 Target TP PIPs: 60 SL PIPS: 20 Fib Entry: 1 Fib TP: .236 Stochastic: over-sold MACD Histogram: contracting down 200SMA: below Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot && S1 Elliot Wave: Completion of correction wave C. If we are starting a new upside wave, this should be a the start of a new bottom. Looking for an upswing to the upside with a correction around 618 fib as validation www.tradingview.com Notes: Posted late since position was opened while I was asleep waiting for NFP. several morning stars formed over several hours after a big swing to the downside. stochastic showing oversold on both the 15M and 1HR. macd still showing downside momentum on the 15M but slowing momentum to the upside on the 1HR With NFP coming up at 530am, I have placed an entry 10 pips below the lowest swing for an upside move of 60 pips shy of the 200sma What can go wrong: NFP is a dangerous play and could completely blow past the SL or have such great volatility that it triggers the SL even though it goes in the correct direction.
Long
by ironcondor
USDCAD 15M long | Morning StarCandle Pattern: Morning Star Trend: down Trend Entry: against TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: .382 Stochastic: over-sold MACD Histogram: contracting down 200SMA: below Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot && S1 Elliot Wave: Possibly completion of wave 2 for a move to the upside Looking for a long term upside to validate wave 3 Notes: Evening star formed below 764 fib retracement of last swing low. stochastic showing oversold, second dip to the low and moving above the 20 macd showing low momentum to the down side What can go wrong: if price dips bewlow the last swing it will invalid a new uptrend elliot wave and many either its another ABC correction or the formation of an elliot wave to the downside instead going against the trend which breaks a rule of mine, however there is strong reason to believe an upside move considering the elliot wave and 1HR at the 200sma
Long
by ironcondor
AUDCAD 15M Long | Morning Star PatternCandle Pattern: Morning Star Trend: up Trend Entry: With TP/SL Ratio Target: 1 to 1 Target TP PIPs: 15 SL PIPS: 15 Fib Entry: .764 Fib TP: .5 Stochastic: over-sold MACD Histogram: contracting up 200SMA: Above Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot Notes: morning star formed on the 200SMA, Daily Pivot and at the .764 fib of last swing low stochastic showing oversold, second dip below 20 MACD now contracting to the upside Might be in the ABC correction phase of last elliot wave. Possibly point A and looking to create point B just shy of previous swing high which should be around the .382 to .236 fib level
Long
by ironcondor
AUDUSD 15M LONG | Morning Star PatternCandle Pattern: Morning Star Trend: Up Trend Entry: With TP/SL Ratio Target: 1 to 1 Target TP PIPs: 30 SL PIPS: 30 Fib Entry: .618 Fib TP: .764 Stochastic: oversold MACD Histogram: contracting 200SMA: Above Inside EMA/SMA zone: no BB: bottom Pivot Point: Pivot && S1 Notes: morning star just shy of the last downside swing and just above Elliot wave 1 zone Possibly a wave 4 correction with long term outlook to 1.3 to 1.6 fib extension level to complete wave 5 before trend change to a correction
Long
by ironcondor
USDJPY 15M LONG | Double Morning Star PatternCandle Pattern: Double Morning Star Trend: Up Trend Entry: With TP/SL Ratio Target: 1.5 to 1 Target TP PIPs: 30 SL PIPS: 20 Fib Entry: .50 Fib TP: .50 Stochastic: oversold Inside EMA/SMA zone: no BB: bottom Pivot Point: At Pivot Notes: double morning star bottoms. stochastic showing upside divergence Noticed the first morning star last night at a critical crossing point 105.88 waited overnight to see if it would cross this threashold went up and came back down for second morning star. Might be a good sign to see a swing to the upside. Ill take a conservative 30 pips TP and place SL just under the 105.88 crossing point. If price crosses 106.50, possible upside swing as high as 107.10
Long
by ironcondor
USDNZD 15M Long | Morning Star / Engulfing / Double BottomCandle Pattern: Morning Star / Engulfing / Double Bottom Trend: Down Trend Entry: Against TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .5 Fib TP: 1.382 Stochastic: oversold Inside EMA/SMA zone: no BB: middle Pivot Point: Pivot Notes: morning star followed by a pull back and an engulfing pattern to make a double bottom within the retracement price action has been making higher highs and higher lows after a previous down trend might see reversal back to the upside TP set just shy of 1.382 fib extension
Long
by ironcondor
EURCHF 15M Long | Morning Star PatternCandle Pattern: morning star Trend: up Trend Entry: with TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .236 Fib TP: 1.382 Stochastic: oversold Inside EMA/SMA zone: yes BB: middle band Notes: new upswing to the top side and new up trend forming fib pullback to the .764 level and creates a morning star stochastic shows oversold at the .764 level creating a higher low following a second pullback and creating another higher low and stochastic showing top side strength
Long
by ironcondor