Rivian Update: Good Ole' Fed Day

Today was pretty volatile to say the least. I think either the broader market sell off pulled Rivian down with it, changing the count, or I was one degree off. Both have equal possibilities, as I said before, wave v would've had to extend in order for that count to work. With this count it explains the overlap with wave 1, todays overall price action(choppiness), and it fits better with the bigger picture.

As I have said in the past, the bigger picture count is King. It dictates where price ultimately goes (aside from the unforeseen). That bigger picture count is saying we're headed for $16.46 minimum next. It needs to be soon though. The longer we chop the higher the risk rises of dropping further down.

Whatever happens make sure to protect your assets. Ther is a lot going on in the world today, let alone what is happening with each individual stock. Set your stops!!! Set yourself alarms so you know when price is getting close to your targets...good and bad ones.

I work again tomorrow so not sure how updates/responses will go. There is a good chance I will sell around half of my position soon on one of these next highs. I will update if I make any trades.

Bonam Fortunam,
--Tyler

Komentar:

Break past $15.74 confirms we're in 3

Komentar:

around $16.23 if it becomes less impulsive I will start looking at selling a portion of my shares. If we remain strong, I will ride this up towards the $17 area.

Komentar:

Good Ole' Rivian: This is either sub-dividing again and will have a big extension or this count is starting to break down. The next few hours will likely be crucial to telling us what price has in mind. Rather it continues on this choppy path, or it becomes impulsive again...either way, it's running out of time...

Komentar:

The fact that this stock dropped over a dollar instead of raising over a dollar...and it did so impulsively, has me a little worried. This could technically be another subdivision and turn into a leading diagnol. Problem with leading diagnols is typically you don't know it is one until you're already in it. If that is the case we'll raise strong next. Otherwise we risk dropping more, $14.40 is a crucial point for me. I highly doubt a leading diagnol below there. Trade carefully friends

Trade aktif:

I have a HARD stop @ $14.85 for 900 shares. This closes my position completely. I have given this thing the benefit of the doubt every step of the way. If it fights against my count one more time I'm getting out.

Komentar:

Triggered...I'm out