Well the first episode is going to be an Emma episode with ensemble meaning with bits of everyone in it as well. Emma is the main character of the show. And there was a shot of Red in her dress from fairytale land where they were she was filming with Snow in the forest so that leads me to believe that the fairytale land part is after where we left off at the end of the last season. Though it is possible that it is after Red and Snow left the mob after Peter was killed, but i think that is unlikely based on what the actor that plays Red said about wanting to do that story. I don’t think that she would have said that if it was already in the script she had read.