CAKE USDT in correction wave

Elliot wave completed and now correction wave is in process. So, now cake can retrace back to 0.618 fabonacci level. And then starts its extension wave,
This is not any financial advice but i'm trying to learn. So, any expert may guide me in my mistake in reading this chart.

Kommentar:

Buying ladder should be active at following fibonacci levels.
0.236 25%
0.5 25%
0.618 50%
not more than 10% of portfolio
I have no idea about stop loss at this point.