Let's have a look at this reversal set up on GbpChf (H1).
Elliot wave has completed a bullish cycle (0 to 5 green)
Market has formed M on top.
Short has been issued on neckline level.
StopLoss above the last leg.
Takeprofit located on the theoretical target zone.
Let's have a look on higher timeframe :
Market is bullish, and the last W pattern on H4 managed to reach target zone.
At this point, Elliot wave on H4 also indicates a completed up trend cycle.
We notice that the target zone from the M Pattern H1 is in fact a return to the previous entry price level of the last W Pattern H4 (neckline)
On Daily, Elliot wave also shows completed bullish cycle