Tesla extended up in its last rise if it was indeed a wave (4). It went up and tagged the 1.0 to slightly breach it. This alone makes me really start to doubt that this is wave (4). We did not breach the 0.5 fib retracement though. The question is, was that just to confuse more people. Because as I said we breached the 1.0, penetrated the last wave iv high, made a new high on the 1hr MACD, raised with strength, we have a low on pos div...etc. etc. The reasons are starting to pile up for us having bottomed already. The key is going to be in the structure of this retrace. If it appears as a 5-wave more down and makes a new low, then that is V of C of 2. If we drop in a 3-wave move and end in the yellow box, then 2 is already over and we are headed up in 3 of (3).
If we move up higher yet and it seems impulsive then I will consider us to have bottomed and, on our way up past $300 easily in the not-so-distant future. If you haven't checked out my Rivian posts, I highly suggest you do so. This is starting to resemble that price action and I believe it has more than likely bottomed already. Hopefully it gives us a good chance to get positioned before it takes off without us should this be the case with Tesla.
Bonam Fortunam,
--Tyler
If we move up higher yet and it seems impulsive then I will consider us to have bottomed and, on our way up past $300 easily in the not-so-distant future. If you haven't checked out my Rivian posts, I highly suggest you do so. This is starting to resemble that price action and I believe it has more than likely bottomed already. Hopefully it gives us a good chance to get positioned before it takes off without us should this be the case with Tesla.
Bonam Fortunam,
--Tyler
Comment:
Primary count is on thin ice. If we breach the 0.5 @ $228.30 then I adopt the ALT that we have already bottomed
Comment:
Not much of an update tonight and I work tomorrow so this will suffice. We never broke the 0.5 fib and dropped in what is either a sloppy micro-wave 1or a wave. Either way this retrace shouldn't be done for a day or 2.
Comment:
No new post tonight. Price stayed steady for the most part today. MACD hasn't revealed her secrets quite yet but I would expect to see it much stronger if we're to head to new highs. This price action seems very choppy though. Thus the conundrum and the reason I am still flat Tesla. Good luck yall, I will make a new post tomorrow night.
Comment:
Going to be busy for awhile. I will make a new post tonight though around 2100-2300hrs CST tonight.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
