Rivian opened nice and strong like I wanted to see. I have drawn a fib for our wave 5 and as you see the 2.0 is all the way up in the low $16 range. This is a very possible end point for this wave ((i)) of (3). That end point would also still fit in the macro count nicely. However, according to the intermediate count we should be ending in the low $15 range. These things being said, I'm going to take the middle road here and say this last leg should end somewhere around $15.50-$16ish.
At this time, price still needs to carve out micro-wave's iv & v of 5. Once these retracements have taken place, regardless of fib levels, the count can be considered complete. I will update throughout the day as needed. Until then, let's ride these waves!
P.S.--I will most likely be selling the rest of my position around the end of this move up to capture those profits. As always, I will post when/if i place any trades. But your stops should be getting tighter...
Bonam Fortunam,
--Tyler
At this time, price still needs to carve out micro-wave's iv & v of 5. Once these retracements have taken place, regardless of fib levels, the count can be considered complete. I will update throughout the day as needed. Until then, let's ride these waves!
P.S.--I will most likely be selling the rest of my position around the end of this move up to capture those profits. As always, I will post when/if i place any trades. But your stops should be getting tighter...
Bonam Fortunam,
--Tyler
Trade active:
Sold 300 shares @ $15.33. I still have 200 shares left I am riding out the end of this wave with
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
