ZRXUSD retrace watch: 0x impulse done, retrace to where ?

Updated

Quick plot to observe ZRX retrace.
There was picture perfect 12345 impulse.
And per Elliott, next comes an ABC correction.

Note

Making steady progress thus far

Zooming in we see a micro-fib at play

interestingly, the Ripples from the top are still in play even after two strong legs up. That implies this is all part of the same move, the ABC I am looking for. If so, next stop should be the red 4.236

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Note

Oops on the lack of update, thought I had posted. We bounced exactly where expected

and picked up my limit buys. But now I think this wave is about done, so have closed half position and trailing stop on the remaining position.

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EuroMotif

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