TESLA has continued trading in its daily ascending channel. Price has now reached the ascending support and we can clearly see how the ABC correction has formed. With the bouncing off from .382 fibo, we can expect this to be a flat correction and we should now expect a bullish impulse soon. I highly recommend you to check out all my Tesla updates provided in the links below.
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In my humble opinion it seems to me that this is a 5-3-5 and the last wave is not finish. May drop some more???
Trendoscope
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Novice question. Doesn’t C supposed to be below A?
Timgucci
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@HeWhoMustNotBeNamed Hi, There are three types of flat corrections. 1. Regular flat correction 2. Irregular/expanded flat correction 3. Running flat correction
The Fibonacci ratios for a Regular flat correction are; - Wave B = 90% of wave A - Wave C = 61.8%, 100%, or 123.6% of wave AB In this case, Wave (C) is at 100% of the Fibonacci retracement level.
Also, you can inbox me if you need help with the guidelines of a Regular flat.