As for now, i see price make a 3 wave down. If the price make another low, the count that is pointed by red arrow is more preferable, which means wave 2 for red is complete. If price rally beyond my key level, i rather wait for 5 wave up for green C wave to complete. This is just an analysis, i'm sorry if the price does not follow it :)
If you view current price making impulsive move (1-2-3), then you can sell on wave 4 to ride wave 5. However, if you view current price as correction (a-b-c), you can buy to ride wave C. Please trade at your own risk and understanding as this is not a financial advice, just my personal analysis :)