Its more likely subwave iv is already completed and looking forward for a completion of subwave v (magenta or white) or wave 3 (yellow). Advisable to be extra carefull for any long (bullish retracement) entry since overall analysis showing a strong bias towards bearish trend from BSTS. Make sure to wait for completion of subwave v (magenta/white) or wave 3 (yellow) before making any bullish retracement entry with a tight SL. Preferably - standby for a retracement phase once subwave v (magenta/white) or wave 3 (yellow) is completed to perform wave 4 (yellow) or wave b (white) and later a bearish continuation to complete wave c (white) or wave 5 (yellow). Good luck.