We should be in our sub-wave 5 of Primary Wave 3 right now. The structure looks to still need at least OML before completion. If my analysis is correct then once price reaches my box of $187.95-199.30 (preferably $190ish) we should see a nice bounce for our primary Wave 4. This will be a quick retrace IMO if Tesla is to catch up to the rest of the market. This theory also fits nicely with the fact the S&P still has OMH to make before its Wave 5 dive.
I also think it'll be a quick drop and fast ride up due to the MACD being primed to raise on the 1H and poised to fall on the 15m frame. Only time will tell. I myself plan on taking a LONG position in the box for the retrace.
It will not be straight up and then back down. Corrective waves come as ABC zig-zags so be patient, use your limit stops to help ease your mind. I cannot stress patience enough. Go in with a plan, or just plan on being anxious the whole trade and prone to mistakes. Good luck to everyone. For accountability purposes I'll comment on here if I make a trade come monday.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
I also think it'll be a quick drop and fast ride up due to the MACD being primed to raise on the 1H and poised to fall on the 15m frame. Only time will tell. I myself plan on taking a LONG position in the box for the retrace.
It will not be straight up and then back down. Corrective waves come as ABC zig-zags so be patient, use your limit stops to help ease your mind. I cannot stress patience enough. Go in with a plan, or just plan on being anxious the whole trade and prone to mistakes. Good luck to everyone. For accountability purposes I'll comment on here if I make a trade come monday.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler