AUDUSD 15M long | Morning Star
Candle Pattern: Morning star
Trend: down
Trend Entry: against
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .764
Fib TP: .5
Stochastic: over-sold
MACD: bullish
200SMA: below
BB: n/a
Pivot Point: S1
Elliot Wave:
possibly ABC completion
Might be the start of a new motive wave to the upside. Currently completing wave 2, retesting the swing low.
Notes:
Morning star formed below the .764 retracement. Entry placed at 764 for a move to the upside
stochastic moving out of oversold zone
macd is showing strength moving to the upside
What can go wrong:
breaking the current swing low could indicate a new wave C low or the start of wave 3 to the downside.
Trend: down
Trend Entry: against
TP/SL Ratio Target: 1 to 1
Target TP PIPs: 20
SL PIPS: 20
Fib Entry: .764
Fib TP: .5
Stochastic: over-sold
MACD: bullish
200SMA: below
BB: n/a
Pivot Point: S1
Elliot Wave:
possibly ABC completion
Might be the start of a new motive wave to the upside. Currently completing wave 2, retesting the swing low.
Notes:
Morning star formed below the .764 retracement. Entry placed at 764 for a move to the upside
stochastic moving out of oversold zone
macd is showing strength moving to the upside
What can go wrong:
breaking the current swing low could indicate a new wave C low or the start of wave 3 to the downside.
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