ZI - Continuing higher if support holds, else down to 35/38

We're in a decision point here.

If support holds, we should see a small base form and price continue to go higher, in which case you can buy on a break out of the consolidation.

If we do break below support, chances increase for this to be a Flat correction and should therefore see price go down to the marked support zone.

Here's an idealised Flat correction

Note that here are different types/names of Flats depending of where wave C end. Look it up if you want to learn a bit more.

Note

It's been a while but looks like it's getting ready for a move higher now.

But, if this updated count is correct, we will see only one push higher before seeing it pullback again, since it seems we got a triangle here.

For those among you who are not familiar with the Elliott Wave Theory, know that Triangle corrections occur in the position prior to the final actionnary wave in the pattern of one larger degree.
Meaning, we will see a wave C higher and then correct most of, if not all, of this ABC rise.

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !

Also on: