Candle 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.
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.
עסקה סגורה: היעד הושג
TP reached in 6 hourselliot C wave correction terminated exactly around the wave 3/4 zone and just shy of the 200sma.
could continue to drop, looking for for uptick with a 618 -764 retracement to retest the low for an entry long to possibly start a new elliot wave to the upside
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.