NKLA Update - Embedded Harmonics

So it appears the sneaky market decided to reject the Blue Butterfly Harmonic (see previous chart). But has now reformed another Butterfly Harmonic to chase the weak hands out. Strong players will have remained in the market... or bought back in at 65.00.
Caution is still in for the trade because resistance will setup again where we failed previously at 70.00... so be aware.

70 is a strong area of stagnation and struggle.. but with the newly formed embedded crab (which we did not have before).. we stand a very good chance of getting thru 70 and seeing 75 complete the Butterfly... This would be a good area to take profits...but for the REAL TRADERS- the butterfly may continue up due to the bullishness on the crab formation up.. and get us to 78.00 at which time Profits should be realized as we will start a new Harmonic set of some kind by this point.

So from 65- 78 is not a bad trade at all. Just be conscious of the resistance/ reset points

Trade active:

Very surprised to see the bullish gounce support on the Crab not hold up..but the formation appears to be completing.. -if so we should get a healthy rally out of it (if it does not fail.. the bullish bounce point now could become resistance.. not out of the woods yet.

Order cancelled:

Bottom for NKLA is now 57.75. Trade is resetting!

Trade active:

New Bottom 58.65 this will complete a new formation Bullish Shark! Rebound will be back over the holiday.. what a fake out. Gotta Love this RIDE! Stay in it.