Latest Elliot Wave Cycle began bullish indicating the complete cycle will be bullish.
Usually, the 2nd wave retraces bellow 50% fibonacci of the 1st wave, place entry point at 50% fibonacci. If you like a more secure entry point, place entry point above the end of wave 1.
Corrective wave 2 doesn't go bellow start point of wave 1, except it is an irregular cycle. So place your SL bellow start of wave 1.
Usually, the 2nd wave retraces bellow 50% fibonacci of the 1st wave, place entry point at 50% fibonacci. If you like a more secure entry point, place entry point above the end of wave 1.
Corrective wave 2 doesn't go bellow start point of wave 1, except it is an irregular cycle. So place your SL bellow start of wave 1.