Is TESLA (TSLA) ready for the next move up?
Hello traders and investors,
Today idea is entirely focused on the hypothesis that primary wave 4 (purple) is not going to be a ABC zigzag correction (please ref. to https://www.tradingview.com/chart/TSLA/kxREpmu8-Waiting-Game-TESLA-TSLA-Bulling-long-term-scenario/)
Since we published that idea, Tesla moved in a sort of a triangle (with most probably a triangle in wave e). Having a triangle in wave 4 is not so uncommon, yet I have also can't ignore that wave 4 is less than 23.6% and it didn't complete in the region of intermediate 4 of lower degree.
However, this triangle took more than 3.618 times of wave 2.
Finally, if the subdivision of the internal triangle is correct, we broke above intermediate wave (D) as highlighted with the dot green line.
Let's see what happens in the following days/weeks.
Today idea is entirely focused on the hypothesis that primary wave 4 (purple) is not going to be a ABC zigzag correction (please ref. to https://www.tradingview.com/chart/TSLA/kxREpmu8-Waiting-Game-TESLA-TSLA-Bulling-long-term-scenario/)
Since we published that idea, Tesla moved in a sort of a triangle (with most probably a triangle in wave e). Having a triangle in wave 4 is not so uncommon, yet I have also can't ignore that wave 4 is less than 23.6% and it didn't complete in the region of intermediate 4 of lower degree.
However, this triangle took more than 3.618 times of wave 2.
Finally, if the subdivision of the internal triangle is correct, we broke above intermediate wave (D) as highlighted with the dot green line.
Let's see what happens in the following days/weeks.
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.