Candle Pattern: Evening star
Trend: down
Trend Entry: with
TP/SL Ratio Target: 3 to 1
Target TP PIPs: 60
SL PIPS: 20
Fib Entry: .618
Fib TP: 1
Stochastic: over-bought
MACD: bearish
200SMA: below
BB: n/a
Pivot Point: Pivot && R1
Elliot Wave:
Currently on wave 4
looking for wave 4 to make a completion closer to wave 1 high
Notes:
Evening star expected to form at the 618 or 764 level then make a move down to finalize elliot wave 4
stochastic within over-bought zone
macd is showing strength moving from bearish to bullish. Im hoping for 1 more drop before the real push to the upside
What can go wrong:
wave 4 could be completed already and this could be the start of the upside move.
Trend: down
Trend Entry: with
TP/SL Ratio Target: 3 to 1
Target TP PIPs: 60
SL PIPS: 20
Fib Entry: .618
Fib TP: 1
Stochastic: over-bought
MACD: bearish
200SMA: below
BB: n/a
Pivot Point: Pivot && R1
Elliot Wave:
Currently on wave 4
looking for wave 4 to make a completion closer to wave 1 high
Notes:
Evening star expected to form at the 618 or 764 level then make a move down to finalize elliot wave 4
stochastic within over-bought zone
macd is showing strength moving from bearish to bullish. Im hoping for 1 more drop before the real push to the upside
What can go wrong:
wave 4 could be completed already and this could be the start of the upside move.