It's been a while since i posted and since the last time where tesla was in a final wave 5, price has come down in a corrective way. This corrective wave, a flat with internal structure of 3-3-5, could now be over.
The question becomes if this is the end of the correction or was this the first corrective wave inside a bigger correction, in other words, are we in a bigger wave B or is price going to new highs?
I don't think it's a flat correction (wave B is too short for that). It looks like a WXY with wave Y still developing).
jdemunter
⋅
@PriceActionHelp, it's possible that it's a WXY, sure, but then wave Y needs to be a 5-3-5, with the last 3 and 5 still in the making. The 61.8% of wave A is typical for a wave C in a flat, 161.8% is common aswell.
PriceActionHelp
⋅
@jdemunter, "the last 3 and 5 still in the making" - yes, my guess would be for this scenario indeed.