No confirmation yet that Primary 2 has bottomed, but the potential upside here is remarkable. Gonna need a loose stop if you use the 61.8% retrace (bottom of green box).
Get back over the recent high with strength and I could be convinced (iii) is underway. New entries should place stops below recent lows, then trail them up as targets approach, depending on your desired time horizon. For example, you wouldn't want to stop out ni wave (iv) if you want to hold for a year, so keep stops below 2 or ii.