ETHUSD, steep channel and Elliott wave in one set-up

Hi guys another beautiful set-up for “color options” traders, Elliott wave and steep channel all in one. In other words, we have two indicators confirming bearish bias in the short term. I will enter short trade when red candle closes bellow channel’s support line or if green candle closes above resistance line (since it will most likely be a fake break upwards). So, as soon as my entry conditions are met, I will start buying “red options” on every consecutive candle(max 10 trades). My rules are the same as before:
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.

Rules:

7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.

8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.

9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).


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Trade active:

Red candle closed bellow support line. Now I will start placing trades on the next 10 candles that they will be red.

Trade closed: target reached:

Even though the direction of the trade went as predicted, the move down wasn't deep enought, so in the end I only broke-even on this trade.