Elliot Wave: currently at point B in the elliot wave correction after a downside elliot wave move. Looking for the completion of point C around point A
Notes:
moening star formed around the .764 level and and S1 pivot point
stochastic showing oversold macd histogram showing momentum slowing to the downside. Crossover just happened
TP Goal around 40 pips but will let it ride as far as possible to point A
What can go wrong: since price is below 200SMA, price could continue to the downside making the elliot wave correction invalid. Would have to re-evaluate the elliot wave for a new recount.