Trading Plan: Placing a goal on the chart and Entry at wave 5,4,3 or 2 area

On the following two screenshots you can see a black horizontal line that I placed on the chart to visualize my goal (if I would not have placed it the price would look like that it is already at the low of the day, bottom of the screen but with the target it looks like that there is still room to the downside):

 Notice if all goals are reached the weekly goal at 7220 is still a target that can be reached:

Sometimes fast reversals happen at the wave 5,3 or C target area, therefore

its wise to enter directly at these areas for example short below two red 3 min bars if the risk is not too high:

On the wave 4 and 2 area (aka fibonacci area) a trendline break gives better entries for normal reversal trades.

If the end of wave 1 is larger than the start the wave 3 target will most likely be reached in the US session, however first at have two has to be confirmed (see dotted line at prior swing high or low that first has to be broken):

keep in mind to use first the DP area as target and then the wave targets:

in the case where the swing highs and lows can only project targets that are closer than the next decision point its better to use an elliotwave projection from prior days highs and lows rather than the intraday swings:

reversal at wave 5 target: