Rivian never makes it easy to track. It constantly throws curve balls at you and requires patience. This first wave has been no different. Due to everything that is going on geo-politically, and with the debt limit I plan on exiting my position once it hits in/near my target box to protect my profits. I expect us to be making a retrace for wave ((ii)) around the time everything will come to a head, and I don't want to get caught with my pants around my ankles. If you stay in, make sure you use stops and be on your toes. Problem with this situation is wave 2's can retrace up to 99.9% of wave 1 without invalidating. That means you won't know the news invalidated this count, until you're at a loss, instead of the few thousand you would have been profited.
It appears we have one more leg up for wave 5 of ((i)). This should end inside my smaller box but could potentially end anywhere inside the big box. This will most likely happen tomorrow or Friday. Like i said, when it gets up around my box I will either sell out right or set VERY tight stop limits. It honestly will depend on the structure, and my ability to watch it vs. doing my day job lol.
I work tomorrow so it'll be hard to update throughout the day. If i sell I will place an update on here. Good luck!
@TSuth Sir, As clear as daylight. Your charts and explanation are mirroring what I have in mind too, based on constantly re reading your previous posts. Since I was caught up with some personal work could not see the markets except for my pre-market order. Hopefully i can spend some time today and hopefully i do not miss an exit opportunity when it presents to me. Thanks again for all your efforts.
@TSuth, Look at RIVN and your numbers. Laudable. No wonder you are Great job. These are not melodramatic words from me. An honest appreciation of your efforts.