Nice recovery on TSLA after breaking 800 forming a Hammer candle.
Price came right into Fib Cluster at 776-784 made up of 1.618% ext. 50% retracement and 100% symmetry projection.
Also nice double bottom from Jan 29 low.
Can we move up from here, Upside is pretty healthy.
Only issue is Daily Squeeze momentum is still to the downside.
- POTENTIAL STARTING WAVE 5, made a 1-2.
- NICE ROUNDING BOTTOM BASE
- BREAKOUT LEVEL OVER 516.65.
- WATCH MU EARNINGS AS IT CAN IMPACT $LRCX AND OTHER SEMI'S
- POTENTIAL TARGET ZONE FOR WAVE 3 - 545 - 575.98
- POTENTIAL TARGET FOR WAVE 5 - 602 FINAL TARGET
Original eWave count was Jan 7.
- Finished a wave 4 and broke above the downtrend line on another leg up into W5 TZ.
- Nice move up hitting the 1.75% extension at the 1.272% and pausing.
- Having an inside day today, potentially get a flag to move higher into the 1.618 to 2.272% area for end of Wave 3.
- However Wave 3 like to terminate at 1.75%. But only price action will tell us.
Jan 11 Update:
- Had nice entry on the pull back to support at 224 on Jan 24 and then had a nice GAP up
- Hit our 2.272% target and just under the 1.615%
- slight retrace flagging down to the 0.382 which is close to my 38.2% wave 4 bottom. Is this the wave 4?
Trade Entry Options were:
Entry Option 1 - Breakout: $234.50
Entry Option 2 - Pull Back: $225-226 or...
- On 5 of 5 of final Primary wave and on Wave 3 of 5 of Intermediate wave.
- We've hit the 1.75% extension target Wave 3 Target
- With $NIO Day just occured will we get a continuation of Wave 3 up to 2.272% @ 64.72 or the 1.618% @ $68.80from the previous Major High to Low? Or will we see the start of Wave 4?
- Targeting at a minimum the 1.272% at $62.31 before...