jdemunter

jdemunter

Tesla EW count for the daily chart. Looking for a wave B up to around 720 at least. After this rally ends, the real move down will start.

jdemunter

Yesterday after a drop to 635 a small bounce was expected. This bounce turned out to be very small. If the count is correct, look for 600 to break today. 464 will be tested sooner than expected. This might seem very bearish, but remember in 3th waves (even corrective waves), price can move quick and surprises come in the direction of the trend.

jdemunter

Price is in a 3th leg of a corrective wave and moving as expected. Look for a small wave up now or at 635. After this price will attack the wave A low and break lower. The target would be around 464, the 100% fib of wave A.

jdemunter

The small triangle idea was blown away by the big rally yesterday. The finished wave B count is still in play as long as price stays below 745. This would mean price is in the 3th leg of a corrective wave from the top. Ofcourse wave B can still transforms into a triangle. Should 745 be broken, the alternative is a bigger wave B to test the area around 800.

jdemunter

Just a quick update on the count. I see a small triangle wave b. Early next week expecting a drop to test 600.

jdemunter

In the last post a wave B turning point was shown, price didn't quite get into the reversal zone but turned lower before that showing weakness in the rally power. Price is now in the last wave of this bigger corrective wave which could still be part of a even bigger corrective wave but that's too far away to worry about at the moment. Look for lower prices with a...

jdemunter

Yesterday a small rally wave b was expected, but did not happen. However, the larger support at 650 did hold after a spike down. This means price has finished wave A and is now in a wave B up. Looking at resistance around 760. This is again a very bearish count, but can be expected as speed increases in the downtrend. The alternative is a larger wave B with 760...

jdemunter

The very bearish count with the small wave B triangle played out very well. Looking at the wave count, a small bounce around 695 followed by a small rally is in play. Later price should drop lower again to find a bigger support around 650. The trend is down and price is still pretty high, so these small rallies are either people buying dips or short positions...

jdemunter

There's a possible triangle to finish wave B already. This is a very bearish count and will see lower prices next week.

jdemunter

Yesterday the 760 target was reached ( 761 but close enough ) to finish wave A. From this bottom, corrective wave B up is now underway. This wave could be short in time as the pressure to the downside will start to build up.

jdemunter

A late rally last week was part of the last leg of a bigger corrective wave. The last part of this wave should start today and finish around 760. If 830 breaks to the upside the alternative counts should be looked at.

jdemunter

In the last post i showed the main count with 2 alternatives. All 3 counts are still in play but focus remains on the main count. This has price breaking lower to test the 100% fib extension around 760. Green wave x can still transform into a bigger wave or a triangle, but 3th legs in corrective waves are usually faster so i prefer counting it as finished.

jdemunter

Price went lower as expected. Let me show you the EW counts i'm looking at right now for Tesla. The main count is still the same one, a double three with 760 as a target zone. Now to the alternative counts. Both are triangles, the first one ( shown in in red ) is a smaller triangle where there is a very large first wave a. This triangle is in it's final stage...

jdemunter

Since the top, price has had corrective waves only as expected. The main count has price looking lower fast in the 3th leg of a double three. Typically double three corrective waves have equal legs, so for this count look at around 760. Looking at the alternative count, there is a possibility of a bearish triangle forming, where wave A of this triangle is the...

jdemunter

Looking at Tesla to fail and break the resistance after testing it for the 4th time. Starting another corrective leg lower.

jdemunter

Tesla has topped and all price action will be corrective from now on. Price is currently in a wave b up. This is where the last bullish people believe the main trend up will resume. However, this EW count shows that price will soon enter a wave C down, which will be where long positions will start to sweat and exit.

jdemunter

Tesla had a nice drop but is only starting. Expect more downside to come. The current EW count has price in a corrective counter rally which can see price going to around 860 to test some fibonacci levels. After that, price will resume the downtrend.

jdemunter

Yesterday was the moment to exit long positions and enter short positions as the top was made for Tesla. The bounce back up is corrective. The way down for Tesla will continue to be corrective. Things are about to get crazy !