Stop Loss is placed under the 161%
i am not an elliott expert, but for me this looks like a corrective pattern. i am not looking at the internal subdivision.
i see 3 swings into a 50% line retracement and a 100% fibo extension.
enough for me to try a long for at least 3 waves higher into my 1st target and BE.
What you mean by 5 part move?
do you label this move down as an impulse and are you expecting another low?
Thank you !