price likely topped in an abc structure and came down impulsively breaking relevant support levels. price then came up in 3 waves only into the resistence level for the second wave(suggesting a corrective move to the upside). therefore it is valid to count this as a valid 1-2 setup. the relevant short area for this setup is the black fibbonacci box and the target is below the last swing low at 0.243 for the third wave.