So far Tesla has been acting normal for the most part. The rise from the bottom of $151.72 has appeared to be very corrective, thus far confirming my thesis that this is our ((B)) wave of Wave ((2)). I want to talk about a few things that stand out to me about the chart Tesla is carving out.
1. I have marked on the chart a box that runs from the 1.0-1.382 fib line of what I am calling our A-B move.
2. The 1.786-2.0 are normal endpoints for 5-wave moves, however, Tesla has been moving one fib line above normal targets, which leads me to believe it will do so again.
3. If this is the case, then it points Telsa to the 2.236-2.382 fib lines ($173.61-174.56), as the most likely end for this C wave of (A).
4. The C wave in the ABC retrace, more times than not, will at least hit the 1.0 of the 3-wave move. The 1.0 in this question is $172.84.
5. A common end point for an A wave in the ABC retrace, is the 0.382 fib line of the previous motive wave. Marked by a blue line the 0.382 fib in this case is $174.14.
6. MACD looks like we will see another increase marking a higher high in price, but at the same time making a lower high on the MACD. This is known as a hidden bearish divergence (HBD), telling us this move is ending and price is about to change to the opposite direction.
All of these things are saying that, although we should make another high in the short term, we will soon turn back down in order to carve out our (B) wave. When we approach the top of (A), I plan on selling at least half of my Tesla shares to collect on the profit. If we hit $173-$175, then our (B) wave should end somewhere around $155-$160 IF it is a "NORMAL" retrace. That would mean a scalp of $10-$15/share.
Last thing I want to end on is our wave 2 was very deep and long so our wave 4 should be short and shallow.
In the short term, I only see Tesla moving up. It is possible this has still been a i-ii, 1-2 forming in an overall bullish pattern. This would suggest we have bottomed for wave ((2)) already though and given all of the reasons listed above i do not believe that is the case.
Trade wisely my friends and please leave a comment if you find my posts helpful or have any questions. Also, if you haven't already, hit that follow button and we can begin to practice EWT together making profits along the way!!
Bonam Fortunam,
--Tyler
1. I have marked on the chart a box that runs from the 1.0-1.382 fib line of what I am calling our A-B move.
2. The 1.786-2.0 are normal endpoints for 5-wave moves, however, Tesla has been moving one fib line above normal targets, which leads me to believe it will do so again.
3. If this is the case, then it points Telsa to the 2.236-2.382 fib lines ($173.61-174.56), as the most likely end for this C wave of (A).
4. The C wave in the ABC retrace, more times than not, will at least hit the 1.0 of the 3-wave move. The 1.0 in this question is $172.84.
5. A common end point for an A wave in the ABC retrace, is the 0.382 fib line of the previous motive wave. Marked by a blue line the 0.382 fib in this case is $174.14.
6. MACD looks like we will see another increase marking a higher high in price, but at the same time making a lower high on the MACD. This is known as a hidden bearish divergence (HBD), telling us this move is ending and price is about to change to the opposite direction.
All of these things are saying that, although we should make another high in the short term, we will soon turn back down in order to carve out our (B) wave. When we approach the top of (A), I plan on selling at least half of my Tesla shares to collect on the profit. If we hit $173-$175, then our (B) wave should end somewhere around $155-$160 IF it is a "NORMAL" retrace. That would mean a scalp of $10-$15/share.
Last thing I want to end on is our wave 2 was very deep and long so our wave 4 should be short and shallow.
In the short term, I only see Tesla moving up. It is possible this has still been a i-ii, 1-2 forming in an overall bullish pattern. This would suggest we have bottomed for wave ((2)) already though and given all of the reasons listed above i do not believe that is the case.
Trade wisely my friends and please leave a comment if you find my posts helpful or have any questions. Also, if you haven't already, hit that follow button and we can begin to practice EWT together making profits along the way!!
Bonam Fortunam,
--Tyler
Commento:
Setting stop loss for 50 shares @ $172.50
Commento:
Stop limit triggered. Will reenter when price is around $160ish. This should allow me to pocket around $700 of straight profit.
Commento:
Commento:
It appears we've topped in our (A) wave and are carving out wave (B). This should end in the next day or 2 around $156-$160 as I have been calling for. Then we head back up for wave ((C)) to the $190-$200 range
Commento:
Heading up for B. This should be a 3-wave move into the box. Then back down for our C wave
Commento:
Commento:
Hit the .382, then the .236, now up towards .618 to finish wave b
Commento:
Commento:
Commento:
If we haven't topped already, $172.59 should halt any further advance. There is a very good chance this b wave is over and we're headed lower in a c wave to finish the (B) wave of ((2)).
Commento:
Up to this point Tesla has done EXACTLY as I have called for. If you want up to date and accurate info like this all the time, then give me a follow and set your alerts to know when I post. Ask me any questions, I will reply within 24hours of the message!!!
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
