Update from previous idea that encompasses bigger picture at play:
Summary
- initial target is 730 (near term); confirmation/entry above 681. I have calls with strike at the entry (Jun 17 680s) because highly likely it will retest this resistance (which is also the beginning of gap created yesterday on 6/13). My prediction is that it will break above entry and begin a very explosive run (see "Explaination" section below)
- Intermediate target 1 = 821.70
- Intermediate target 2 = 955.50
- Goal Target = 1400; this will be Primary wave 5 (circle 5). *Note: I do not expect 1400 by July, so to alleviate confusion if you read the chart as such, I just wanted to capture everything in 1 chart while still showing the mechanics of the harmonics within
Explaination
- The general pattern since intermediate wave 3 = primary wave 1 has been a break of downtrend line via bullish harmonics (these are labled throughout the chart)
- The most recent price action, which I am suggesting playing long (BUT THIS IS NOT FINANCIAL ADVICE), is very bullish with a gartley coming off a butterfly to complete a 5-count Z (which completes the triple combo corrective wave, Primary (circle) 4)
What this means for the whole market: I think it has become undeniable over the recent years that the market (including the crypto market) has become highly correlated with TSLA price action, especially the big moves of TSLA - which tends to drastically affect market trends. Papa Elon is aware, don't let him manipulate you the wrong way... this planet you call earth... is not home to him. If TSLA is ending its corrective wave slightly before market, as this setup suggests, please expect the market to follow.
With Intent,
Random TSLA Graffiti Artist AKA obvious & typical "Muskie"
Summary
- initial target is 730 (near term); confirmation/entry above 681. I have calls with strike at the entry (Jun 17 680s) because highly likely it will retest this resistance (which is also the beginning of gap created yesterday on 6/13). My prediction is that it will break above entry and begin a very explosive run (see "Explaination" section below)
- Intermediate target 1 = 821.70
- Intermediate target 2 = 955.50
- Goal Target = 1400; this will be Primary wave 5 (circle 5). *Note: I do not expect 1400 by July, so to alleviate confusion if you read the chart as such, I just wanted to capture everything in 1 chart while still showing the mechanics of the harmonics within
Explaination
- The general pattern since intermediate wave 3 = primary wave 1 has been a break of downtrend line via bullish harmonics (these are labled throughout the chart)
- The most recent price action, which I am suggesting playing long (BUT THIS IS NOT FINANCIAL ADVICE), is very bullish with a gartley coming off a butterfly to complete a 5-count Z (which completes the triple combo corrective wave, Primary (circle) 4)
What this means for the whole market: I think it has become undeniable over the recent years that the market (including the crypto market) has become highly correlated with TSLA price action, especially the big moves of TSLA - which tends to drastically affect market trends. Papa Elon is aware, don't let him manipulate you the wrong way... this planet you call earth... is not home to him. If TSLA is ending its corrective wave slightly before market, as this setup suggests, please expect the market to follow.
With Intent,
Random TSLA Graffiti Artist AKA obvious & typical "Muskie"
Comment:
Above the circle 4... that is a Z (from the triple combo).. It decided to act like a zebra and isnt optimally visualed. You get it tho.
Comment:
Important Update for bigger picture***:
I just realized that I mis-labled primary circle 1 and circle 2. The intermediate (3) and (4) are labled correctly, however, primary circles 1 & 2 occurred back in Feb 2020 (@193.80) & Mar 2020 (@70.10), respectively.
Thus, primary circle 3 is an extended impulse off the Mar 2020 low (not shown in this chart).
This will not affect the initial target, Intemediate 1, nor Intermediate 2 targets.. however, it will make Goal Target at projected primary (circle) 5 much higher than 1400... much higher than 1400... blame it on Musk... much higher than 1400...
much higher than 1400...
I just realized that I mis-labled primary circle 1 and circle 2. The intermediate (3) and (4) are labled correctly, however, primary circles 1 & 2 occurred back in Feb 2020 (@193.80) & Mar 2020 (@70.10), respectively.
Thus, primary circle 3 is an extended impulse off the Mar 2020 low (not shown in this chart).
This will not affect the initial target, Intemediate 1, nor Intermediate 2 targets.. however, it will make Goal Target at projected primary (circle) 5 much higher than 1400... much higher than 1400... blame it on Musk... much higher than 1400...
much higher than 1400...
- The 525 red horizontal ray is the stop for the intermediate targets from the butterfly