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
Note
Don't know what happened to the wave (4) box but here it is corrected.Note
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.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.