Expecting this wave C/4 to finish around ~1940 to 1850 and start final move towards ~2400 to 2700. I reassessed and adjusted my count to a less bullish target for this wave that aligns more to my original target and makes more sense to me at this time.
Tesla news everywhere last week with their stock price smashing through 2000. Will it keep going up I read? Shall I buy now? Is it too late to jump in now? Who know.... nobody knows. But to me, as soon as the news starts talking about it the fear and greed scenario could kick in - just like BTC at 20k? The people late to the party will jump in and then...
Tesla start to wave 3 or extension of first wave and larger correction. target ~2060 to 2200 for this wave
Still expecting another low. Leaning towards it being a bottom for this correction but still possible we get a B and C move
Looks like 5 waves and first move is in. Lot of sideways action today and expecting more correction at this point. Will reasses if it breaks above previous high
Think we will see a top in wave 5 soon. Not sure how deep of a correction to expect at this point but leaning towards it being a shallow correction ~1650 to ~1750. Will try to update once I think top is in or if count changes.
Starting 5th wave move. Looks like it could test previous high. Turn more bearish short term if it breaks below ~1595
8.13.20 I reviewed a few markets including copper, Tesla, coffee, and if you equity markets that I am no longer going to follow as I am cleaning up my watchlist. The discussion is mostly about trading dynamics and how to manage losing trades when it's likely they will give you a second chance to exit a trade.
Like the look of the move right now but its at a dangerous stage where its only 3 waves. Really need 5 waves to turn more bullish. Turn more bearish if it breaks below ~1520 in this micro move. Looks like top of a 3 of 3 to me right now.
Tesla looks good to short to $1150 if it can break $1364. Now $1364 is a supply/demand region as well. We can easily bounce up to $1500 if price can not break below $1355. Tesla did break back in the channel. The short side looks good imo . as of right now i'm staying neutral until either we break $1450 or break $1355.
I show the two scenarios I think are most likely right now. Will turn more bullish if breaks above ~1470
I like the setup still overall. Looks like its moving towards a wave C. Watching for an impulse up and correction to buy or if its looking like bottom in 5th wave. potential bottoms ~1460 or ~1450. count invalidates ~1420 and looking for a change in count. This impulse is based on a weird wave 1 so its not a perfect setup but I like it.
Still waiting for another low in this move until starting next impulse up.
Still like the look of the wave. Adjusted my count based on the move down. Looking for more correction then move up
Was expecting more downside but this impulse has me leaning bullish right now. Waiting for a 3 wave correction and move upwards to adjust count.
Tesla Looks like its close to a bottom in this correction. Will need a 5 wave impulse and 3 wave correction to confirm