🔋TSLA — consolidation in a bullish triangle

●● Preferred count
● Tesla, Inc.🕐 TF: 1W
Fig.1

The lateral correction appears to form a contracting triangle, presumably in the subwave (B) of ① of the large ending diagonal V.
_______________________________________
● Tesla, Inc.🕐 TF: 1D
Fig.2

In a contracting triangle, wave C is forbidden to go beyond the end of wave A. On the graph, this level is labeled as "invalid.". A breakdown of this level will remove the counting of the triangle from consideration and open the prospect of forming a correction in the form of an expanded flat.
_______________________________________
● Tesla, Inc.🕐 TF: 4h
Fig.3

Within the intermediate wave degree, an upward single zigzag D is expected. This will be followed by a decline in price within the final subdivision by wave E, which will complete the triangle (B), opening up the opportunity to open a long position.
_______________________________________
_______________________________________
●● Alternative count
● Tesla, Inc.🕐 TF: 1W
Fig.4

In an alternative wave count, it is assumed that the triangle is unfolding by the primary wave ④. The counting has a number of disadvantages, for example: wave B of (4) is more than 200% A; the wave (1) of ③ on structure more likely a triple, rather than an impulse. All this forces a seemingly obvious wave count to be kept as an alternative scenario.

_______________________________________
Disclaimer:

— The owner of the TradeWaves-EWA © community is not responsible and has no direct or indirect obligations to the User/Customer in connection with any possible losses or financial damages related to any content of this community.