First of all the is not completed the second thing is that If i measure the whole move which you can see on the chart it retrace back up to .382 level.
The recent down move when measured gives me . right above the .382 level of the prevoius leg of the move I draw a horizontal line and i noticed that price at this level acted as a good in the past twice.
So I prepared for the trade to go short once the criteria are met.
I have made a video make sure to watch it you will better understand this whole setup
here is the link to that video https://www.youtube.com/watch?v=r7ziMXlBlXU