To me that run up looks like a corrective up move, the overall trend is still down with constant LH and LL's maybe it is hoping to achieve a breakout point and sellers will take it down from there, I'm wondering how you define the wave up and down?
I have been attempting to trade with the trend, but it turns out that time that entry and telling apart corrective move from impulse wave is much more challenging than buying low and selling high that is really a no brainer and if you are lucky you can definitely hit home runs.