AUDJPY 15M short | Evening Star Entry
Candle Pattern: Evening star
Trend: down
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .382
Fib TP: 1
Stochastic: over-bought
MACD: trending up
200SMA: below
BB: n/a
Pivot Point: pivot
Elliot Wave:
Possibly the start of wave 3 to the upside but since price is below 200sma, going to try to see if price action retests the lows before moving up.
Notes:
double evening stars formed just below the 200 sma
Entry placed at the evening star level where SL will extend past the stars and also beyond the 200sma
stochastic entered the overbought zone and is begining to turn down
macd strength was on the downside and has currently moved to the upside. Hoping for a correction back to the downside
What can go wrong:
wave 3 could start now and move to the upside
Trend: down
Trend Entry: with
TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20
Fib Entry: .382
Fib TP: 1
Stochastic: over-bought
MACD: trending up
200SMA: below
BB: n/a
Pivot Point: pivot
Elliot Wave:
Possibly the start of wave 3 to the upside but since price is below 200sma, going to try to see if price action retests the lows before moving up.
Notes:
double evening stars formed just below the 200 sma
Entry placed at the evening star level where SL will extend past the stars and also beyond the 200sma
stochastic entered the overbought zone and is begining to turn down
macd strength was on the downside and has currently moved to the upside. Hoping for a correction back to the downside
What can go wrong:
wave 3 could start now and move to the upside