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: .382
Stochastic: over-sold
MACD Histogram: contracting up
200SMA: above
BB: n/a
Pivot Point: S1
Elliot Wave:
Possibly elliot wave 2 in completion and good time to enter for wave 3
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. lower range crossover happening
TP Goal set to 40 pips but will take anything in profit near end of day
What can go wrong:
might not be the start of wave 3 if price breaks the recent swing low.
If price breaks recent swing low it will invalidate the whole elliot wave to the upside
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: above
BB: n/a
Pivot Point: S1
Elliot Wave:
Possibly elliot wave 2 in completion and good time to enter for wave 3
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. lower range crossover happening
TP Goal set to 40 pips but will take anything in profit near end of day
What can go wrong:
might not be the start of wave 3 if price breaks the recent swing low.
If price breaks recent swing low it will invalidate the whole elliot wave to the upside