Candle 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.
Trade fechado: objetivo atingido
closing at 20 pips so the position is not left open over the weekend
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