What about this idea ? I do think more lower low has to come. Then bouncing upwards from trendline? Maybe. The duration of the lowest low could take until september, october... maybe later. imo I'm not a trader. I do like watching (study) charts. Feedback would be nice.
So we went up for now. I think the shorts will be coming back soon. Then towards the lower low. I'm still hoping for a break towards the upside but it's more likely to assume the continuation some more down.
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It looks like it still follows my idea. I do think we are in long wave 4 for now and continue 2 short wave 5 .... Let's see what happens. I hope the wave 5 will be short and not a slow long lasting sideways continuation...