JASMYUSD Long Scenario

Recently Jasmy is showing very clear patterns. Based on Elliot Wave analysis I think we just had an extended third wave and the market should make a correction towards wave 4. Considering the rule that wave 4 can't go below wave 1 I am expecting a bounce above the top of wave 1. There might be a demand zone matching 0.5 Fib level so I will look for buying opportunities in that zone. Also in that zone we have 0.02 rounded number so I think it makes sense for the market to come back and retest this price level.
Risk to reward ratio is a 4.14
What do you think about this one? :)