Due to prolonged decline and the presence of 5th wave (wave v) extension in wave (3), wave (4) will retrace & terminate more than 61.82% of (3).
"The 5th Wave Extension is the only extended wave which should be consistently retraced more than 61.82% by the next wave of the same Degree no matter what part of a larger scale the 5th wave is ........................"
Ref.: MEW Neely p. 10-10
Now, it's in middle of the x wave of the expanded (4).