ironcondor
Short

USDCAD 15M Short | Evening Star Pattern

FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
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: .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
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