Tesla Update: v it is

Apparently Tesla decided to have the choppiest leading diagonal followed by a micro ending diagonal, then had a very small micro wave 2. To me, this is the only way to count this mess. I did say the other day that a leading diagonal was possible but highly doubtful. Well, it came to fruition so now we track this v down. So far, we have a 1-3 finished and 4 possibly finished or half way done. 5 comes after 4 so we just need one maybe two more lows to finish wave v of (3).

After we bottom in (3) we should start a retrace for wave (4). Until then I cannot give a precise target though as I will use the retracement fib to guide me better. The way I see it now is we will most likely raise to the $217-$220 area before heading down to our final target of (5) of C of 2. After we top in (4) I can give a better target for (5). I believe (4) will be short and shallow though since (2) was long and deep.

Notice on the MACD we are on positive divergence. One or two more lows would set price up nicely for a good retrace. Chart says the rest, let me know if you have questions about it and I will try to get to them as soon as I can.

Bonam Fortunam,
--Tyler

Comentário:

If price breaches the 2.0 today then we are extending well beyond normal fibs. If that occurs it will just be using each successive fib as a possible turn around point. It would also point to this entire C wave potentially ending at the 2.618 fib @ $170.83 area

Comentário:

No update tonight. Looks like OML is needed on the 1Hr chart. Looking for a bottom around the 2.0 before we raise for (4)

Comentário:

Sorry y'all not enough time to do a full post. I haven't had time to delve deep but it appears we are finished with (3) and started on (4). If this is to be the optimal count we should end within my box. Nothing says we can't extend higher, but that would be unusual for a wave 4. Tomorrow night I will make a new post around my normal time.