As the title suggests, price should move higher next. MACD and structure both point to price moving higher for wave v of 3 next. Notice how MACD made a new high @ close on Thursday of last week? This was during the mini-wave 3 of iii which is exactly where I would expect to see it.
The next move I would like to see price take us, is to the box marked on the chart @ $211.70-$217.24. After that I expect a 3-wave retrace to about the 1.0 extension around $200 before raising again for wave 5. As of now I own 30 shares of Tesla with plans to buy more soon. My current stop is still set @ $194.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Trade closed: stop reached
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SL hit. This makes me wonder if this is an abc since it turned around right by the 1.0 and we now have overlap
This is a bloody red market, especially in EV RIVN is down the same percentage. All the stocks that I look at are way down. Maybe it's a pattern in the overall NASDAQ?
kometata
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Sorry about your lost man (
TSuth
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@kometata it was $200 lol. I'm not to worried about it
TSuth
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@kometata you win some and you lose some. as long as I win more than I lose I'm happy
basictradingtv
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Interesting but unfortunately a stopout... Good luck though!