im also very much a learner with Elliot waves so definitely happy to be corrected on my analysis here, I did some quick reading last night about the wave 4 rule and found that if it was only an intraday crossover i.e wick crossover it can be negligible, so looking at the KZA daily graph being a wick crossing a wick I kind of figure that to be the case but would really need to do a lot more study of the Elliot wave theory to say that with 100% certainty.
I did also checkout your later wave pattern and need to correct myself here, wave 2 is allowed to retrace up to 100% of wave 1 so long as it doesn’t dip below so this could also be right. I’d be interested to know from your latest interpretation what the possible target could be for wave 5
KZA Price at posting:
$1.45 Sentiment: Buy Disclosure: Held