Your "W" might end up being shaped more like stair steps downwards with one step up half way down before getting to the bottom of the stairs. Also if this was set up for a "W" it would be a strong sell right now, not a strong buy. Check your sentiment.
If you are talking EW, then my read would be the low today is the bottom of Wave 2 (Bottom of corrective W5 was .28) with Wave 3 ahead. Candlesticks (Wikipedia): 'The inverted hammer is a type of candlestick pattern found after a downtrend and is usually taken to be a trend-reversal signal. ' Inverted Hammer shows up on 6 month Daily chart. Not making a prediction-just pointing out what chart looks like. Sharpei