Tesla Update: Today Gave Clarity

I'm going to make this post short in light of my previous post being very detailed in what I expect from here. As you notice on the hourly chart, we made a new low on pos div which is a big indicator we are about to move higher. Now, weather this is a wave 2 or (4) is yet to be determined.

I am of the mindset as you can tell by my chart that we are in the larger wave 2. The turquoise wave (4) will stay on the chart and is a valid count until we move above the 0.5 fib retracement. Even then it is still valid just not likely. To me so far this move up off the 1.786 fib it hit earlier only needs OMH to be considered a complete 5-wave move in which i will call our micro a wave of 2. It is at that point I plan on selling my 25 shares I bought earlier for an easy $250ish profit.

If that occurs, then the next move should be a b wave down. On the completion of that move, I plan on buying some calls with a tight leash. Shooting for the $250's-$260's to complete this move up.

If this is a wave (4) still, then we won't rise as high, and the strength down won't be as strong as if it was a wave 3. Not to mention big papa MACD will help to differentiate for us.

That's my trading plan as of now and I will update when I execute any trades / change strategies.

Bonam Fortunam,
--Tyler

Trade active:

Stop upped to $240

Trade closed: stop reached:

Stopped out for a little over 2% profit on a spec trade

Comment:

Expect a reaction at the 1.0

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MACD made a new high indicating this has all been wave a with b soon to start. We need a high on neg divergence first though

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This should ideally be the last move up to the 1.236 or 1.382 before b wave starts

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B might be starting early...be carefuly

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Here is the chart

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Not making a new post tonight as I feel I have been clear on my expectations. We made the high I called for on neg divergence in after hours trading. I expect us to spend tomorrow dropping for micro b wave. Hopefully I'll have a chance to buy some puts if not maybe I just short outright. I'll update here if I make any trades.

Trade active:

1 PUT bought: strike $225 exp 10/20

Comment:

I just want to put something out there for my followers. Utilizing EWT I have managed to track not only the move down from $299.29 but also, thus far, have managed to track the ensuing retrace. Because of this, I entered a spec long position 0.17 cents from the bottom. Then entered into a PUT less then $2 from the local top resulting in a trade that is already at a profit of more then 30%. Seems this EWT thing may just be credible after all and puts purely fundamentals to shame. What are y'alls thoughts?

Comment:

1 PUT bought: strike $225 exp 10/20

Bring total to 2 Puts