Rivian Update--11/12

This will be a quick update because my thoughts on Rivian are still unchanged. Sometimes it can be hard to remain objective on a count that you have put so much time and effort into. I try to always check that at the door. Partly because I know so many people read my posts but also because I'm putting my own money on the line lol.

We are trading on positive divergence on EVERY time frame. The P/C ratio went from 0.37-0.56 Friday. We bounced literally 1 penny from my 1.382 fib line and have also been respecting the 0.786 fib retracement. Structurally this thing is cooked. There are just too many ways supporting this thing to go through the roof soon. Don't get me wrong, looking at the micros it looks as if it could maybe use another low, but they can be very deceiving. I've touched on that a few times and the same reason you hear me say things like "big count is king".

Once we start to move up, I will make some new fibs to the upside. Rather that be tomorrow or sometime this week idk. For now, I predict we will move up to the low $20's fairly shortly after we start upon that path as an initial target before any decent retrace. This will be the start of wave III of (I) after all.

Bonam Fortunam,
--Tyler

Commento:

Today was promising. If we have bottomed then tomorrow I expect to follow Tesla in making 2-3 more highs followed by a 3-wave retrace before boom!

Commento:

Here is the updated chart for Rivian. Looks like we have already extended well beyond normal fib lines. As you see we could extend up to the 3.618, or we could drop hard for a wave ii when CPI releases.

Commento:

Rivian is behind Tesla in the count due to the fact it hit a new bottom on friday.

Commento:

waiting on the retrace to deploy more capital. Looks like we hit the top of wave 1 now we want to see a 3-wave retrace for 2

Commento:

Forget about timeline...this is what I expect to see from Rivian

Trade attivo:

Bought 10 more jan 19 $20 calls