ZIOP using Elliott waves

83 5 3
first crack at Elliott waves
Thanks for the comments guys!
The wave count back in January could use a little refinement. The origin of wave 1 is in an unusual place.
That certainly could be an impulse.
EW is really tricky, if you try to label the correction to the left, you'll be suffering a severe headache the next day.
Try MACD instead of that RSI, to confirm the counts. You can read about it in Constance Brown and Bill William's material, but I wouldn't advise starting with it to base trading decisions on. It's attractive to be able to forecast the market, but in reality, it's very hard to get it right, and to make money off it.
My 2 cents.
+1 Reply
good stuff
+1 Reply
I think it may retrace to 11:30 then impulse
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