Tesla Update: 02/07/2024

Today we didn't get the clean 5-wave set-up Coinbase provided, but nonetheless, it does appear to be carving a 5-wave set-up. I would like us to tag the 2.0 @ $191.41 next followed by a 3-wave retrace to the low $180's ideally. MACD seems to be supporting this count at this time, but we have yet to get confirmation. Just as with Coinbase, once we get the structure I have described above and raise in an impulsive fashion that is what I will consider confirmation.

If price doesn't follow this pattern I laid out, there is a good chance we will fall lower towards the 1.0 @ $171.67. Given how high we raised today into wave ii 's territory, I feel that either the ED is complete or invalidated. If we get the price action I have described, I will most likely buy around 50 shares and some calls give or take. Should I enter into a trade with Tesla, I will have a hard stop as it can be volatile and often times hard to count. Let's hope the next day or two brings us some good news.

Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.

Comment:

We got the OMH today that I called for last night. From here I want to see us make a 3-wave move into the next box lower I have drawn on the chart below. MACD is following an ideal pathway too. If we make the above stated structure into the next target box labeled with a red ii, I will start to layer into Tesla. Once we have an a-b wave I can refine my target for c.