EURUSD 15M short | Evening Star

ORDER OPENED OVERNIGHT
CLOSED BEFORE POSTING THIS

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: .764
Fib TP: .236
Stochastic: over-bought
MACD: turning bearing
200SMA: slightly above
BB: n/a
Pivot Point: R3

Elliot Wave:
wave 4 completion
possibly wave 4 completion area as its getting close to wave 1 low. Looking for a test to the wave 1 low then make a move to the downside to make wave 5


Notes:

Evening star formed around the .618 retracement. Looking for price to hit .764 before making its move to the downside
stochastic hitting over-bought zones without making new highs

macd is showing a bearsh move to the downside



What can go wrong:
wave 4 can go too high past my SL and get very close to wave 1 low
breaking wave 1 low would indicate a possible ABC to the upside instead