the way I see it is that the 1-2-3-4-5 is now complete and it's time to start the correction, which consists of a A-B-C move. A perfect target would be the green box as it matches with the 50% Retracement. However, please keep in mind that a A-B-C can in many cases drop all the way to the beginning of the 1-2-3-4-5 so don't just jump into the market but react rather than predict.
Let me know what you think. Appreciate all of your comments.