Tesla should have a wave (4) retrace coming up soon and since the wave two was deep but short, I would expect this to be shallow but long in duration. Notice the MACD is starting to curl up on the hourly. It should start to rise towards the 0 line tomorrow. On the chart I have marked our next two target areas that I feel price should go based upon the prior price action. I DO NOT want to see price poke above the blue 0.5 fib @ $252.01 for any reason.
After that we should descend downwards for our final wave (5) of 1. Given how this thing is extending at every level I would not be one bit surprised if we tag the 2.618 fib before rising for our primary wave 2. This will be a tradable event for me, and I will definitely go long should the count I described come to fruition. The Chart speaks for itself so I will leave you with that. I work the next two days so not sure how well I can keep y'all updated.
Bonam Fortunam,
--Tyler
After that we should descend downwards for our final wave (5) of 1. Given how this thing is extending at every level I would not be one bit surprised if we tag the 2.618 fib before rising for our primary wave 2. This will be a tradable event for me, and I will definitely go long should the count I described come to fruition. The Chart speaks for itself so I will leave you with that. I work the next two days so not sure how well I can keep y'all updated.
Bonam Fortunam,
--Tyler
Commento:
Don't know what happened to the wave (4) box but here it is corrected.
Commento:
I'm having a very busy day today at work and I have to be back tomorrow so I will not be making a post tonight. I haven't really been able to follow price today but this is either wave 4 or larger wave 2. Here is my chart.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
