A fib ratio has lined up at the 2003 .75 price level.
The fib levels that match together are the 1.618 Fib extension which is on the chart.
Along with the 161.8% fib level found in the fib retracement tool ( i do not have the 161.8% on the chart, in order to make the chart clean).
Price did retrace to the 38.2% which is the 1953.25 price level.
where to put your stop and why
The stop should be placed under neath the A wave (which is a swing low). Todays Kijun is underneath wave C and todays kijun is above wave A
The reason is because it is below the kijun. If you placed your stop underneath the C wave you will be having your stop above the kijun. Which in hindsight price historically does gravitate or retrace to the kijun. this is why you would want your stop under the A wave.
What about the target?
The fib ratio is targeted at the 2003 .75.
However to be conservative some where around the 1990-2000 level would be ideal.