As time goes by the picture gets clearer and I think the map has changed as we have another wave to the upside pending (wave C). Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2. It could drop deeper to the area highlighted with an orange box (1286-1265). It could be better to long there. Minimum target where C=A = 1560, which coincides with the 61.8% Fibonacci from the all time high to the major low. The risk should be limited at least below the start of wave 1 of C (1236).