If this is a wave 1 (pink), then the current retracement should be a wave 2 (pink). This becomes invalid if price action breaks below the bottom (red circle). A bullish bounce at the Fibonacci ...

The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences.