Candle Pattern: Evening star
Trend: down
Trend Entry: wait
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .764
Fib TP: 1+
Stochastic: over-bought
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: R1
Elliot Wave:
Currently on wave 5
Looking for a final wave 5 low or a retest of the last low
Notes:
Entry placed at 764 of last swing high, above 200sma, shy of R1 pivot
stochastic showing over-bought at time of entry
macd is showing bullish strength at time of entry. Was bearish at time of analysis
What can go wrong:
could start the ABC upside correction instead
Trend: down
Trend Entry: wait
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .764
Fib TP: 1+
Stochastic: over-bought
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: R1
Elliot Wave:
Currently on wave 5
Looking for a final wave 5 low or a retest of the last low
Notes:
Entry placed at 764 of last swing high, above 200sma, shy of R1 pivot
stochastic showing over-bought at time of entry
macd is showing bullish strength at time of entry. Was bearish at time of analysis
What can go wrong:
could start the ABC upside correction instead