What I see in this market is a downtrend.
We can wait for it to reach our Stop Loss level (yellow dotted line near current price) and then enter placing our new Stop Loss above the 50% Retracement.
If you want to enter the market now this is how I would like the market to play out:
Push to 23.6%, consolidate/extend to the lower yellow line. Dashed aqua line is support/resistance. Purple solid line is trendline.