My last post stated the micro and macro counts were at odds with each other, and that price could go either way. Today I believe we got our answer as price bounced from the smaller target box making a new high in both price and MACD.
If price has indeed bottomed, our next target for wave iii of 3 is $203.01 - $211.70 before we get our wave iv retrace. There is a slight possibility this has all been an abc corrective count but with the high MACD made that is doubtful.
As I mentioned earlier, I am slowly building into a position and thus far have acquired 20 shares. Right now, I have my stop set for $194 as price shouldn't drop below here for a while if this is the correct count. If price hits the target box and then retraces for wave iv, I will buy more shares on that retrace.
We don't have complete confirmation yet, but with the way price and MACD are acting it seems we are entering into the next bull cycle for Tesla. We made a 5-wave move higher (albeit sloppy) followed by a corrective retrace. We then rose in an impulsive fashion and made a new high on MACD. These are all signs we're headed higher. This isn't a time to get comfortable as y'all know Tesla can be unpredictable, but I like what I'm seeing. This is the first time I have been long Tesla in a few months at the minimum. Let's hope this count is the correct one.
Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
If price has indeed bottomed, our next target for wave iii of 3 is $203.01 - $211.70 before we get our wave iv retrace. There is a slight possibility this has all been an abc corrective count but with the high MACD made that is doubtful.
As I mentioned earlier, I am slowly building into a position and thus far have acquired 20 shares. Right now, I have my stop set for $194 as price shouldn't drop below here for a while if this is the correct count. If price hits the target box and then retraces for wave iv, I will buy more shares on that retrace.
We don't have complete confirmation yet, but with the way price and MACD are acting it seems we are entering into the next bull cycle for Tesla. We made a 5-wave move higher (albeit sloppy) followed by a corrective retrace. We then rose in an impulsive fashion and made a new high on MACD. These are all signs we're headed higher. This isn't a time to get comfortable as y'all know Tesla can be unpredictable, but I like what I'm seeing. This is the first time I have been long Tesla in a few months at the minimum. Let's hope this count is the correct one.
Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Comment:
Hit the box pre market and looking like we already got our wave iv.
Comment:
Just an FYI my stop it set @ $194 and I only have 20 shares
Trade active:
Bought another 10 shares bringing total to 30
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
