Sugar update… wave 4 flat or w2?

Sugar opened this morning down and extended it's decline under some support of 1705 and 1707. I can now count 5 waves down from the high from 5/14 of 1828  as this is one of my fave set ups to the long side. I'm looking for a reversal to come and possibly coming today.

 This could be counted as a w4 flat and at completion usually preceeded by a w5 extention. I think we will see shortly.

Wave 2 scenario:

 The w4 is still counted as a w4 unless we move into the vicinity of 16.82. If this occurs then the 16.50 range and the advance from 1/28- 3-/3 will be counted as a completed w1. With a w2 underway. 

Current position still holding longs.