EURCHF 15M Short | Evening Star

Candle Pattern: Evening star
Trend: up
Trend Entry: against

TP/SL Ratio Target: 2 to 1
Target TP PIPs: 40
SL PIPS: 20

Fib Entry: 1
Fib TP: 1+
Stochastic: over-bought
MACD: bullish
200SMA: above
BB: n/a
Pivot Point: R1


Elliot Wave:
Currently on wave 5
Looking for the start of ABC correction to the downside


Notes:

Entry placed at the last swing high

stochastic showing over-bought at time of entry

macd is showing bullish strength, however we are seeing some divergence to the downside


What can go wrong:
could make a new wave 5 high beyond my SL