I'm very new to Elliot wave, and Elliot wave analysis. However using this method I'm expecting (after confirmation) a price uptrend. I've already indicated my my stop loss and and target prices in blue. I've included a MACD indicator which shows that a prices are continuing to decline. I will wait for a cross over before placing any trade.
The purpose of publishing this idea is gain feedback on whether the Elliot wave has been drawn correctly, this will then help me develop my analysis.
Currently I'm using a different strategy; however I feel that having a backup strategy when times are slow is a good idea.