TSLA very clear 5 waves down - The 'A' wave may be finished
Updated
TSLA very clear 5 waves down and measurement levels are clean.
5 waves down is corrective and has 2 possible outcomes, this being the less bearish of the 2 and i lean towards this more conservative count for now.
It looks like tsla has put in an A wave of an ABC correction, and its very possible the A wave down is done.
Looking for a B wave bounce to start soon.
Other tickers as well as the QQQ have very similar 5 waves down.
Price bounced at the 50% fib of an extension fib setup. The longer term target for this fib setup is 1068 as long as 465 doesnt break.
Trendline Support.
Volume climax at lows.
RSI and Stoch oversold.
Watching for the start of the B wave up. Resistance into recent supply levels would make sense possibly up to 840.
5 waves down is corrective and has 2 possible outcomes, this being the less bearish of the 2 and i lean towards this more conservative count for now.
It looks like tsla has put in an A wave of an ABC correction, and its very possible the A wave down is done.
Looking for a B wave bounce to start soon.
Other tickers as well as the QQQ have very similar 5 waves down.
Price bounced at the 50% fib of an extension fib setup. The longer term target for this fib setup is 1068 as long as 465 doesnt break.
Trendline Support.
Volume climax at lows.
RSI and Stoch oversold.
Watching for the start of the B wave up. Resistance into recent supply levels would make sense possibly up to 840.
Note
Note
Note
looking good so far.
will be watching to buy the pullback when its ready to catch the c of the b wave up
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