Tesla Update: Target is Narrowing

Tesla has been in a ((B)) wave retrace since it bottomed in ((A)) on 27 April @ $151.72. So far, we have carved out our (A)-(B) waves and are now working on wave (C)...Wave 3 of (c) of (C) of ((B)) to be more specific. 🤣 The only indicator i used to determine ALL of this...MACD. Look at my last post if you want to see the experiment i completed with my followers. Needless to say, MACD did exactly as i said it would with price on the 15min time frame. Go on, go read it for yourself.

On the chart above I have labeled that we topped in the wave 5 of i target box today. We then retraced down to $172.45 for wave ii and moved back up with decent strength in what I'm saying is the beginning of wave iii. The short duration and shallowness of this move is exactly why it isn't always the best idea to try and scalp a wave 2 in these micro mechanisms. Sometimes they can be deep and cut into a decent chunk of profits right at the beginning. It's hard to hold on to your shares in those situations because you're watching profits disappear, and then start wondering if it will drop below your buy-in price causing losses. Fear and Greed are very real, and you must control these emotions at all times. USE STOPS!!!

Good thing about a shallow and quick wave 2 is you know wave 4 should be deep and long. AKA a potentially good spot to scalp, hint hint.

All that being said, that was a VERY short wave ii. I don't think wave i extended that far with the strength it had until the EOD. However, anything is possible, and I must keep this in mind in case it comes to fruition. If that was the case, we would be headed back down tomorrow. Again, I think it is unlikely.

I labeled my fibs on this chart to point out you need to be paying attention to multiple layers of fibs at the same time and when to listen to which ones. Not only that but the normal goals of those targets. But that is a discussion for some time in the future. I can't go giving away all my secrets...yet. 😉

My call for tomorrow is we spend the majority of the day moving up. Question is, Will Powell cause Tesla to quickly top and reverse for wave iv? or cause it to jump and drop with volatility creating confusion in the counts and where we will head next? Thankfully, I am off tomorrow and will be able to watch the markets closely.

You have my targets and thoughts for tomorrow. Post any questions you have here, I will answer them with in 24hrs. Check out my past work, if you like what you see give me a FOLLOW.

Bonam Fortunam,
--Tyler

Comment:

I would expect Tessla to start rising with strength and soon. If this count is correct, we should be entering a 3 of iii of (c) of (C)...it should be STRONG!

Comment:

If price is going to meander around in this area, we need the MACD to start dropping for consolidation. This would set us up for a good raise come Monday morning. Time will tell but this is also an indication that we are coming towards the end of this move. Counts normally start to become much more complicated towards the end.

Comment:

15min time frame MACD has nearly reset and ready for a push higher with price maintaining its levels. This is a hidden bullish divergence telling us price should start moving up soon. Also, this is starting to look like our wave 3 may be sub-dividing, which would be another bull signal. Rather that happens by EOD or Monday morning idk, but i will most likely sell at least 75% of my shares in Tesla when I feel we hit our wave iii high. This is because our wave 2 ii was so shallow and quick i would expect wave iv to be deep and long. I will post a trade alert if/when i sell anything.