All the EW counts I've seen on Fiber takes the final leg down a five wave. This was also what I thought for a while, until now. On the other hand, double fits much better than a five wave. If this is the case, the current daily uptrend might be an X which would indicate much selling in the following months. Another possibility is that the downward movement is over and we are experiencing the A of the A-B basement of a new, supposedly a decade-long uptrend.
That's the most tricky part which all FX traders wants to know : ) I have some thoughts on that, but my thoughts are constantly changing. For me, there's no right counting. I just pick one reasonable count and try to support it with other tools such as Gann fans and Fib clusters. Right now, I'm not trading Fiber. Just watching what it has to offer me.