Candle Pattern: Evening star
Trend: down
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .618
Fib TP: 1+
Stochastic: over-bought
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: R2
Elliot Wave:
Currently on wave 5
Looking for new wave 5 low to be completed
Notes:
Evening star formed at the 764 level. Entry placed at 618 fib for entry to the downside right at the 200sma
stochastic showing over-bought at time of entry
macd is showing bullish strength, however we are seeing some divergence to the downside
What can go wrong:
wave 5 could be completed and we could be starting the ABC correction to the upside instead
Trend: down
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .618
Fib TP: 1+
Stochastic: over-bought
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: R2
Elliot Wave:
Currently on wave 5
Looking for new wave 5 low to be completed
Notes:
Evening star formed at the 764 level. Entry placed at 618 fib for entry to the downside right at the 200sma
stochastic showing over-bought at time of entry
macd is showing bullish strength, however we are seeing some divergence to the downside
What can go wrong:
wave 5 could be completed and we could be starting the ABC correction to the upside instead