USDCHF 15M short | evening Star Pattern

trade entry opened overnight. See previous idea that outlines my entry goal.

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: .764
Fib TP: 1.0
Stochastic: over-bought
MACD Histogram: contracting down
200SMA: above
BB: n/a
Pivot Point: R1

Elliot Wave:
elliot wave 5 possibly completed and looking for the start of ABC correction.



Notes:

evening star formed around the 1.0 level and the R1 pivot point

stochastic showing overbought
macd histogram showing momentum slowing to the updside. Crossover just happened

TP Goal around 40 pips but will let it ride as far as possible to point A

What can go wrong:
elliot wave 5 could continue to make new highs and blow past my SL.