Bullish Butterfly Pattern - Elliott Wave Analysis

NASDAQ:TSLA   Tesla, Inc
Motion AB: Point B is the most important level of the impeller pattern, which should be at 78.6% of the XA wave.

BC movement: BC movement should continue until the Fibonacci retracement of 38.2% or 88.6% of the AB wave.

CD Motion: If BC is 38.2% of the AB wave, the CD wave is likely to reach 161.8% of the BC wave. But if BC is as much as 88.6% of the AB wave, CD motion is likely to continue up to 261.8% of the BC wave.

AD Motion: Finally, the total AD motion, which includes BC , AB and CD waves, should be at the level of 127% or 161.8% of the XA wave.

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