HD produced a fantastically accurate channel, baselined on tops of II and IV. If we assume that wave V of (I) is complete, the minimal target for wave (II) would be 224 (0.236 of all time) and it could be lower. Speaking about a possible shape, a zigzag comes to mind, but it is quite unpredictable now. For an alternative, assuming it is just wave alt III completed, I would be looking for a possible drop to 140-180. From the perspective of timing, wave II took over 8 years, wave IV – over 2. Wave (II) should probably take several years.