Get started

Evening Star

GBPUSD 15M short | evening Star PatternCandle Pattern: Evening Star Trend: down Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: .382 Stochastic: over-bought MACD Histogram: contracting down 200SMA: below at the time Inside EMA/SMA zone: no BB: top Pivot Point: R1 Elliot Wave: currently in the wave 4 correction zone. I see further downside to reach closer to wave 1 zone before making its final push upside to complete wave 5 Notes: Late post, Entry made overnight. Already in profit at posting. at 1am placed an entry above the fib .764 level where my 20 pip sl would overlap the recent swing high. Price was still around the low point of the last swing low. I placed the entry in hopes price goes to the 764 level and continues the downside trend. evening star formed around the 764 fib retracement jut breaking the 200 sma. stochastic showed overbought with several repushes into the overbought zone before it reversed macd histogram showed momentum slowing to the upside as the evening star high was retested TP Goal around 40 pips What can go wrong: its possible we wont see further drop to retest the wave 1 high and we just blow past to wave 5 and create a new high
Long
by ironcondor
EURUSD 15M long | evening Star PatternCandle Pattern: Evening Star Trend: down Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: 1+ Stochastic: over-bought MACD Histogram: contracting down 200SMA: slightly below Inside EMA/SMA zone: no BB: top Pivot Point: Pivot Elliot Wave: looks like the formation of the C point correction to the last elliot wave. Notes: Late post, Entry made overnight. Already in profit at posting. at 1am placed an entry at the fib .764 level. Price was still around the low point of the last swing. I placed the entry in hopes price goes to the 764 level and continues the downside trend. morning star formed around the 764 fib retracement jut shy of the 200 sma. stochastic showed overbought macd histogram showed momentum slowing to the upside TP Goal around 40 pips What can go wrong: its possible this is the starting of wave 1 of a new elloit wave to the upside
Short
by ironcondor
USDCHF 15M short | Evening Star PatternCandle 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.
Short
by ironcondor
USDJPY 15M short | Evening Star PatternCandle Pattern: Evening Star Trend: down Trend Entry: with TP/SL Ratio Target: 2 to 1 Target TP PIPs: 40 SL PIPS: 20 Fib Entry: .764 Fib TP: .236 Stochastic: over-bought MACD Histogram: contracting down 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: R1 && R2 Elliot Wave: looks like the start of wave 5 in the uptrend. Hourly starting to show overbought. Im looking for a retracement down before completing the final leg to the upside above wave 3 on the hourly Notes: morning star formed around the 618 fib retracement. I set my entry at the .764 above the morning star. stochastic showing overbought and second wave into the overbought zone. macd still showing decrease in upside momentum What can go wrong: SL set just above wave 3 last high and price could end up going straight for the completion of elliot wave 5 and blow past wave 3 last high point, at which point I would get stopped out.
Short
by ironcondor
USDJPY 15M short | Evening Star PatternCandle Pattern: Evening Star Trend: up Trend Entry: against TP/SL Ratio Target: 3 to 1 Target TP PIPs: 60 SL PIPS: 20 Fib Entry: 1+ Fib TP: .50 Stochastic: over-bought MACD Histogram: contracting up 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: R2 && R3 Elliot Wave: Completion of wave 5 final wave 5 completion of the upside wave, terminating in the wave 3/4 zone of the previous wave down this also completed a giant ABC correction from the previous downtrend wave. this may be the start of a new long term downtrend. Looking forward to an ABC correction down to the wave 3/4 area of the current wave. Notes: Posted late since position was opened while I was asleep waiting for NFP. morning star formed after a big upswing. stochastic showing oversold and having trouble moving to the downside to fully correct macd still showing upside momentum slowing down. With NFP coming up at 530am, I have placed an entry 10 pips above the highest swing, looking for a downside retracement around the .50 fib level and above the 200sma What can go wrong: NFP is a dangerous play and could completely blow past the SL or have such great volatility that it triggers the SL even though it goes in the correct direction.
Short
by ironcondor
EURCHF 15M short | Evening StarCandle Pattern: Evening Star Trend: up Trend Entry: against TP/SL Ratio Target: 1 to 1 Target TP PIPs: 15 SL PIPS: 15 Fib Entry: .618 Fib TP: .382 Stochastic: over-bought MACD Histogram: contracting down 200SMA: above Inside EMA/SMA zone: no BB: top Pivot Point: Pivot && R1 Elliot Wave: this may be point B of the ABC correction of the previous Wave 5 Looking for a long term drop between wave 3 and wave 4 Notes: terrible looking Evening star, more like massive dojis, formed at the 618 fib retracement of last swing high. stochastic showing overbought and dipping below 80 macd showing momentum to the down side What can go wrong: might see price still retrace the to 764 level, SL place above that point if price goes beyond last swing high, it will be the new wave 5 high point
Short
by ironcondor
AUDCAD 15M Short | Evening StarCandle Pattern: Evening Star Trend: down Trend Entry: With TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .618 Fib TP: .236 Stochastic: over-bought MACD Histogram: contracting down 200SMA: Above Inside EMA/SMA zone: yes BB: top Pivot Point: Pivot && S1 Elliot Wave: Looks like we just completed ABC correction of previous elliot wave If if this is the start of a downside elliot wave we should see a push past C point low to create a new low If C is the start of new upside elliot wave, we should see a retracement to around the .236 fib of C point before contuniation upside Notes: Evening star forming inside ema/sma zone, under 200sma at fib .618 level and just under elliot wave 1 zone stochastic showing overbought macd starting to show decrease in upward momentum What can go wrong: Might see price enter .764 fib before actual reversal to the downside might see price stop shy of .236 if this is an upside elliot wave
Short
by ironcondor
USDJPY 15M Short | Double Evening Star Pattern / Double TopCandle Pattern: Evening Star Trend: Down Trend Entry: With TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .618 Fib TP: .382 Stochastic: overbought MACD Histogram: contracting 200SMA: Above (just barely) Inside EMA/SMA zone: no BB: top Pivot Point: Pivot && R1 Notes: double top evening stars at the .764 fib level of previous swing high stochastic showing overbought and divergence to the down side MACD showing decreased momentum to the top side and should make some good downside momentum. TP set just shy of last inner swing low however this may be the starting wave 3 in an elliot wave to the down side
Short
by ironcondor
USDCAD 15M Short | Evening Star PatternCandle 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: .618 Stochastic: overbought MACD Histogram: contracting 200SMA: Above (just barely) Inside EMA/SMA zone: no BB: top Pivot Point: Pivot && R1 Notes: morning star just shy of the last upside swing I believe this is completing correction point B following a full Elliot wave 5 Long term outlook to 1.2812 downside price range
Short
by ironcondor
USDCAD 15M Short | Evening Star PatternCandle Pattern: Evening star Trend: Up Trend Entry: Against TP/SL Ratio Target: 1 to 1 Target TP PIPs: 20 SL PIPS: 20 Fib Entry: .236< Fib TP: .382 Stochastic: overbought Inside EMA/SMA zone: no BB: top Pivot Point: R5 Notes: Evening star and showing lots of resistance at the R5 Pivot point. Price is at an extreme for the day. Looking for a small pullback of 20 pips Stochastic showing overbought, crossover and drop below 80 as confirmation
Short
by ironcondor
AUDUSD 15M Short | Evening Star PatternCandle Pattern: Evening Star Pattern Trend: Nuetral Trend Entry: N/A TP/SL Ratio Target: 1 to 1 Target TP PIPs: 10 SL PIPS: 10 Fib Entry: .236 Fib TP: .50 Stochastic: overbought Inside EMA/SMA zone: no BB: top Pivot Point: Pivot Notes: Evening Star forming just shy of R1 resistance. Trend is semi neutral at the moment and hasnt made a biased to up to or down side stochastic is showing overbought with crossover and dipping below the 80 mark.
Short
by ironcondor
NZDUSD 15M Short | Evening Star Pattern & dojisCandle Pattern: Evening Star Trend: Down Trend Entry: With Trend TP/SL Ratio Target: 1 to 1 Estimated PIPs: 10 Fib Entry: 61.8% Fib TP: 61.8% Stochastic: overbought Inside EMA/SMA zone: yes BB: midpoint Notes: morning star, entering after the breaking the green up bar spotted possible downside move after spotting several doji's prior bolinger mid band entry, looking for a move to the downside lower band might see a band ride to fib extension 1.382
Short
by ironcondor
BACK IN THE DOWNTRENDCHANNEL v2so the daily has turned into an evening star and bulltrap. As for now the 200 EMA looks like strong support, but because the dailycandle is an evening star the next few daily candles are going to be red. That's why I think it will fall through it the wave to the bottom of the trend channel didn't go down as I predicted in my last TA, but the pattern just got moved up to the evening star. If the support holds for a while and then drops later the wave could end up higher. Depending on how this week will turn out we will either see a reversal at the the bottom of the green uptrendchannel and end of the wave (9.900-10.000), the fib0.618 or fib0.5 line. When this happens we might form another Inv H&S pattern. and shoot straight up to 13.2k if these levels don't hold you should panic because the weekly candle is going to be a graveyard doji. the bottom would be around 5-6k. good luck trading
BITSTAMP:BTCUSD
by dpr0x