I believe now is the time to short TSLA if you haven't done so already. The prime time would have been to do it above $920 in my opinion, but, nevertheless, we had a text-book parabolic rise which ended with a high of $968.99, and the best time to short a parabolic rise is when it attempts to retest the previous high and fails. With that being said... parabolic rises of average retrace anywhere from 62%-78% which would put TSLA anywhere between $479-$347 (don't worry, it doesn't happen overnight). We are now in a long period of consolidation that will lead to more sideways movement and downside.
Right now I believe we are in an "ABC" correction which is taking place in the form of a regular flat, which is a 3-3-5 sub-wave movement. We have just finished our B wave within the wave structure, a textbook regular flat's B wave retraces 90% (90% would be $940.79 and we retraced to $944.78), then our likely targets for wave C will be a 1:1 extension of wave A ($662.79) as well as a 1:1.236 extension of wave A ($596.24).
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