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USDCHF 15M long | Fibonacci EntryCandle Pattern: N/A Trend: up Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: 1.0 Stochastic: over-sold MACD Histogram: contracting up 200SMA: above BB: n/a Pivot Point: S1 Elliot Wave: Currently in correction from wave 5 completion. Correction A might be completed and looking for a move to Correction BB Notes: Entry placed at the .764 level near the S1 pivot point stochastic showing oversold zone macd histogram showing momentum slowing to the downside and momentum picking up to the upside. mutiple lower range crossovers happening TP Goal around 40 pips but will let it ride as far as possible to point B What can go wrong: the current downside move to point A could continue further past my estimates and SL. Fed rates news could mean more volatility than my SL can handle
Long
by ironcondor
USDJPY 15M long | Morning Star Fibonacci Retracement 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: 1.0 Stochastic: over-sold MACD Histogram: contracting up 200SMA: above BB: n/a Pivot Point: S1 Elliot Wave: currently on wave 3. Having a small pullback that retraced into wave 1 zone. Expecting a push out of wave 1 zone to complete wave 3 to the upside Notes: Overnight order entry placed at the .764 retracement morning star formed around the .764 level and the S1 pivot point stochastic showing oversold macd histogram showing momentum slowing to the downside. mutiple crossovers happening TP Goal around 40 pips but will let it ride as far as possible to wave 3 high What can go wrong: the current downside retracement could go further down before turning over to the upside.
Long
by ironcondor
USDCHF 15M short | evening Star Patterntrade entry opened overnight. See previous idea that outlines my entry goal. Candle Pattern: evening Star Trend: up Trend Entry: against TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: 1.0 Stochastic: over-bought MACD Histogram: contracting down 200SMA: above BB: n/a Pivot Point: R1 Elliot Wave: elliot wave 5 possibly completed and looking for the start of ABC correction. Notes: evening star formed around the 1.0 level and the R1 pivot point stochastic showing overbought macd histogram showing momentum slowing to the updside. Crossover just happened TP Goal around 40 pips but will let it ride as far as possible to point A What can go wrong: elliot wave 5 could continue to make new highs and blow past my SL.
Short
by ironcondor
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
EURUSD 15M short | evening Star PatternCandle Pattern: evening Star Trend: down Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: 1 Fib TP: .50 Stochastic: over-bought MACD Histogram: contracting down 200SMA: above BB: n/a Pivot Point: r5+ Elliot Wave: possibly the completion of an elliot wave to the downside and currently at point A of the ABC correction. Looking for a small downside move for point B before we see an upside move for point C Notes: evening star formed around the .764 level and another at the 1.0 fib of the last swing high. stochastic showing oversold with a double entry to the over-bought zone. macd histogram showing momentum slowing to the upside. Crossover hasnt happened yet, so my entry might be a bit premature TP Goal around 40 pips but will let it ride down as far as possible What can go wrong: might be a trend reversal to the upside and might not see enough of a downside move to be profitable. I will need to consider taking a break even at the earliest opportunity in case we see a further strong push to the upside.
Short
by ironcondor
Reversal? Low Volume & Downtrend BUT ADX rising(-DI above +DI)..I would feel more confident if the ADX (black line) is above 20 but in a falling state. In this case it looks as if it increasing... My interpretation of Volume and Price: Volume Share Price Interpretation Decline Uptrend Bearish Decline Downtrend Bullish Increase Uptrend Bullish Increase Downtred Bearish What are your thoughts on GLBS ? How do you translate volume and price increase/decrease? If you have recommendations or tips - please, let me know below at the comment section. /Pat
NASDAQ:GLBS
by maga22
Ascending wedge possible hinting at further downside?Lots of short signals here. The first one is that wre now have yet another 1 day candle closing below the 200 MA. The second big one is on the 4 hour chart where a day or 2 ago the 100 SMA did a death cross under the 200 SMA and is currently continue to trend donward from it, leaving us with the 100SMA under the 200SMA and the 50SMA under both of those..all strong sell signals. We also just closed the last 4 hour candle back below the tline which is usually a good sell signal....and finally we have now an ascending wedge which tends to break bearishly downward especially when compounded with all these other sell signals. I think we could very well break downward form the wedge and diop as low as the 00% fib retrace extension level at around 76...to ensure I buy back in before any bounce abck up though I'm not gonna try to catch the bottom and instead have set 7749 as my arbitrary limit buy back in number. Hopefully this time it actually hits that...my previous limit buy order was $100 too low of the last recent dip and I missed out on the profit taking of the recent temporary bull flag.
BITFINEX:BTCUSDShort
by DrDovetail
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
USDCHF 15M short | Evening Star PatternCandle Pattern: Evening Star Trend: down Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 30 SL PIPS: 15 Fib Entry: .764 Fib TP: 1+ Stochastic: over-bought MACD Histogram: contracting down 200SMA: below Inside EMA/SMA zone: yes BB: top Pivot Point: At Pivot Elliot Wave: looking for an ABC C point final termination closer to the wave 3/4 zone of the last elliot wave uptrend and close to the 200sma on the hourly chart. Notes: Evening star formed around the 618 fib retracement. I set my entry at the .764 above the morning star to allow for better entry stochastic showing overbought with a sligh divergence to the downside macd still showing decrease in upside momentum What can go wrong: SL is set above elliot wave A point correction low. I could be wrong about C point making a final low closer to the 200sma and we could be at a new uptrend elliot wave extension at which point the current C point would be the starting point of the new elliot wave to the upside and A correction would be broken closing out my trade.
Short
by ironcondor
USDJPY 15M short | Evening Star PatternCandle Pattern: Evening Star Trend: down 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-bought MACD Histogram: contracting down 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: R1 && R2 Elliot Wave: looks like the start of wave 5 in the uptrend. Hourly starting to show overbought. Im looking for a retracement down before completing the final leg to the upside above wave 3 on the hourly Notes: morning star formed around the 618 fib retracement. I set my entry at the .764 above the morning star. stochastic showing overbought and second wave into the overbought zone. macd still showing decrease in upside momentum What can go wrong: SL set just above wave 3 last high and price could end up going straight for the completion of elliot wave 5 and blow past wave 3 last high point, at which point I would get stopped out.
Short
by ironcondor
USDJPY 15M short | Evening Star PatternCandle Pattern: Evening Star Trend: up Trend Entry: against TP/SL Ratio Target: 3 to 1 Target TP PIPs: 60 SL PIPS: 20 Fib Entry: 1+ Fib TP: .50 Stochastic: over-bought MACD Histogram: contracting up 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: R2 && R3 Elliot Wave: Completion of wave 5 final wave 5 completion of the upside wave, terminating in the wave 3/4 zone of the previous wave down this also completed a giant ABC correction from the previous downtrend wave. this may be the start of a new long term downtrend. Looking forward to an ABC correction down to the wave 3/4 area of the current wave. Notes: Posted late since position was opened while I was asleep waiting for NFP. morning star formed after a big upswing. stochastic showing oversold and having trouble moving to the downside to fully correct macd still showing upside momentum slowing down. With NFP coming up at 530am, I have placed an entry 10 pips above the highest swing, looking for a downside retracement around the .50 fib level and above 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.
Short
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
EURCHF 15M short | Evening StarCandle Pattern: Evening Star Trend: up Trend Entry: against TP/SL Ratio Target: 1 to 1 Target TP PIPs: 15 SL PIPS: 15 Fib Entry: .618 Fib TP: .382 Stochastic: over-bought MACD Histogram: contracting down 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: Pivot && R1 Elliot Wave: this may be point B of the ABC correction of the previous Wave 5 Looking for a long term drop between wave 3 and wave 4 Notes: terrible looking Evening star, more like massive dojis, formed at the 618 fib retracement of last swing high. stochastic showing overbought and dipping below 80 macd showing momentum to the down side What can go wrong: might see price still retrace the to 764 level, SL place above that point if price goes beyond last swing high, it will be the new wave 5 high point
Short
by ironcondor
AUDCAD 15M Short | Evening StarCandle 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
Short
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
USDJPY 15M Short | Double Evening Star Pattern / Double TopCandle 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: .382 Stochastic: overbought MACD Histogram: contracting 200SMA: Above (just barely) Inside EMA/SMA zone: no BB: top Pivot Point: Pivot && R1 Notes: double top evening stars at the .764 fib level of previous swing high stochastic showing overbought and divergence to the down side MACD showing decreased momentum to the top side and should make some good downside momentum. TP set just shy of last inner swing low however this may be the starting wave 3 in an elliot wave to the down side
Short
by ironcondor