The nature of how the impulse patterns are forming in this bearish structure is a clear indication that the current cycle of waves is bearish,however we are near a termination point to resume the overall bullish trend,that being said lets focus on the bearish scenario at present.Where you see a wave 4 labeling was a key level of support turned resistance(basics are as important as the complex concepts),as we should all know,the first retest is the strongest & wave 4 didn't overlap the extreme lows of wave 1(rule).That on its own gives us a confluence with a new higher low plus new resistance,the trend line of the corrective move of wave 4 gives us a guide into the market structure of the current cycle,that blue box at the end of wave B is the recent key lower high so for as long as price hasn't taken that price area out we haven't broken out of structure.Now dealing with the current price action,sideways consolidation of a complex correction,the nature of the waves in the consolidation area are in 3's & three's in Elliot wave symbolize correction,so all waves are accounted for accept wave E,which is currently at play.So all in all i'm waiting for a 3 wave move,another thing when wave E completes we'll have a third touch on the top line,at the third touch/drive institutional orders are filled(then boom) ,the a confirmation for sells,lastly wave E cannot move passed the extreme highs of wave C,hence the stop loss price level.