AUDUSD 15M LONG | Morning Star Pattern Long

Australian Dollar / U.S. DollarFOREX.com

Description

⋅ Mar 7, 2018 12:18 AM

Candle Pattern: Morning Star
Trend: Up
Trend Entry: With

TP/SL Ratio Target: 1 to 1
Target TP PIPs: 30
SL PIPS: 30

Fib Entry: .618
Fib TP: .764
Stochastic: oversold
MACD Histogram: contracting
200SMA: Above
Inside EMA/SMA zone: no
BB: bottom
Pivot Point: Pivot && S1

Notes:

morning star just shy of the last downside swing and just above Elliot wave 1 zone
Possibly a wave 4 correction with long term outlook to 1.3 to 1.6 fib extension level to complete wave 5 before trend change to a correction

Trade closed: target reached

⋅ Mar 7, 2018 8:18 PM

TP reached in 12 hours