So, after the price action of Friday I am back to being 50/50 on the bottom being in. This type of price action is frustrating to say the least. As of now though, I only have a 3-wave count down and it ended right at the 1.618 fib of the move down. This is normal for it to be the mini-wave 3 of the micro-wave 1 but the retrace that followed was too deep for a wave 4. This indicates we are either in wave ii of (5) or the bottom is in.
If we breach $226.97 then I will adopt the ALT as my primary. A big clue though will be if/how price breaches my upper channel band. If we start to move down in a strong move, then it will most likely be iii of (5) starting. Either way, I am still flat as of now of any Tesla.
One thing I want to make clear is if the bottom is in, then this is one of the ugliest patterns to base a bull run off of. Crazier things have happened though.
Bonam Fortunam,
--Tyler
If we breach $226.97 then I will adopt the ALT as my primary. A big clue though will be if/how price breaches my upper channel band. If we start to move down in a strong move, then it will most likely be iii of (5) starting. Either way, I am still flat as of now of any Tesla.
One thing I want to make clear is if the bottom is in, then this is one of the ugliest patterns to base a bull run off of. Crazier things have happened though.
Bonam Fortunam,
--Tyler
Comment:
Pierced my trend line and have managed to stay above it. If we continue above it that is a huge clue.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
