USDJPY 15M long | Morning Star

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: 0
Fib TP: 1
Stochastic: over-sold
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: Pivot


Elliot Wave:
End of wave 5
Looking for final wave 5 high


Notes:

Morning star forming at the 200SMA and last swing low

stochastic showing over-sold

macd is showing bullish strength


What can go wrong:
ABC correction could start now
MACD now turning bearish on strength and stochastic has more room to the downside.
Might be a premature entry