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
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