Warning: This is going to be a long post as I haven't made a meaningful post since last Thursday. That being said let's jump right into the nitty gritty.
The main chart above is my 4HR chart for Tesla and is zoomed into these movements since the $299.29 top made on 19 July. Since then, we have spent 70 days as of tomorrow. To give you reference, our primary wave 2 lasted 70days total. There are no rules governing duration that I am aware of so this retrace can technically take all the time it wants. Regardless of how long it takes, until PRICE invalidates the count, my price target stands. Notice the smaller box is labeled 1, as this C wave should be a 5-wave move down into the larger box. So far, I have both the fib retracement and extension pointing to the same end target for validation. That doesn't mean it's a done deal, but it most certainly gives me greater confidence in this count and proves the importance of watching the larger timeframe counts. If we hit the wave 1 target box and have a standard retracement for wave 2, it will create a third validation for our end target. That however is starting to speculate, and I like to wait for price to prove its intentions first.
The above chart is my Weekly chart and mainly is here to serve as a reminder where we are headed long term. I have stated my thoughts on Tesla's future for a while on here and I continue to believe in so. It has the greatest entrepreneur of our lifetimes at the helm and is becoming too big to fail IMHO. I know a lot of you reading this right now disagree, and that is 100% OK.....still doesn't change my view lol.
The chart above is my 1HR chart and shows a closer view yet of the move down for our C of 2. As you can see, my target still hasn't changed since we topped.....over 2 months ago. Notice on the MACD at the bottom it has reset towards the 0 line. I expect it to drop back down next for our wave 5 making OML before rising in a wave 2. Given time duration for this retrace I would not be surprised if it is very quick and strong catching many off guard and making others develop FOMO. DON'T BE ONE OF THOSE PEOPLE!!! Always wait for confirmation before just jumping in a trade all willy nilly.
This next chart is the 15MIN chart and shows this most recent retrace from the $238.32 low we made yesterday. As you see we did not hit the 1.0 fib line @ $251.81 to make A=C so here is always the possibility we pop back up to make OMH to complete what I'm calling wave 4 at this time. There is also a 0.382 fib retracement line creating fib confluence making that a very strong resistance area. Regardless of if we head down from here or make OMH before dropping, the next target for wave v of 1 of C is $238.31-$230.55.
This last chart I shared so y'all could see the MACD on the micros better. As you see, with the last high we made in price we also made a new local high on the MACD. Without neg div I cannot say that this thing is headed down next for certainty. Due to this predicament we find ourselves in, I think it highly possible we start out in pre-market green to tag the 1.0 on neg div and then spend the rest of the day dropping. The NASDAQ, by my count, is set to raise up for a retrace soon. The question I am asking myself tonight is, will that push Tesla up if it does raise or is the NASDAQ set to extend even further and drop with Tesla? Hopefully tomorrow/today will provide us with some clarity.
Bonam Fortunam,
--Tyler
The main chart above is my 4HR chart for Tesla and is zoomed into these movements since the $299.29 top made on 19 July. Since then, we have spent 70 days as of tomorrow. To give you reference, our primary wave 2 lasted 70days total. There are no rules governing duration that I am aware of so this retrace can technically take all the time it wants. Regardless of how long it takes, until PRICE invalidates the count, my price target stands. Notice the smaller box is labeled 1, as this C wave should be a 5-wave move down into the larger box. So far, I have both the fib retracement and extension pointing to the same end target for validation. That doesn't mean it's a done deal, but it most certainly gives me greater confidence in this count and proves the importance of watching the larger timeframe counts. If we hit the wave 1 target box and have a standard retracement for wave 2, it will create a third validation for our end target. That however is starting to speculate, and I like to wait for price to prove its intentions first.
The above chart is my Weekly chart and mainly is here to serve as a reminder where we are headed long term. I have stated my thoughts on Tesla's future for a while on here and I continue to believe in so. It has the greatest entrepreneur of our lifetimes at the helm and is becoming too big to fail IMHO. I know a lot of you reading this right now disagree, and that is 100% OK.....still doesn't change my view lol.
The chart above is my 1HR chart and shows a closer view yet of the move down for our C of 2. As you can see, my target still hasn't changed since we topped.....over 2 months ago. Notice on the MACD at the bottom it has reset towards the 0 line. I expect it to drop back down next for our wave 5 making OML before rising in a wave 2. Given time duration for this retrace I would not be surprised if it is very quick and strong catching many off guard and making others develop FOMO. DON'T BE ONE OF THOSE PEOPLE!!! Always wait for confirmation before just jumping in a trade all willy nilly.
This next chart is the 15MIN chart and shows this most recent retrace from the $238.32 low we made yesterday. As you see we did not hit the 1.0 fib line @ $251.81 to make A=C so here is always the possibility we pop back up to make OMH to complete what I'm calling wave 4 at this time. There is also a 0.382 fib retracement line creating fib confluence making that a very strong resistance area. Regardless of if we head down from here or make OMH before dropping, the next target for wave v of 1 of C is $238.31-$230.55.
This last chart I shared so y'all could see the MACD on the micros better. As you see, with the last high we made in price we also made a new local high on the MACD. Without neg div I cannot say that this thing is headed down next for certainty. Due to this predicament we find ourselves in, I think it highly possible we start out in pre-market green to tag the 1.0 on neg div and then spend the rest of the day dropping. The NASDAQ, by my count, is set to raise up for a retrace soon. The question I am asking myself tonight is, will that push Tesla up if it does raise or is the NASDAQ set to extend even further and drop with Tesla? Hopefully tomorrow/today will provide us with some clarity.
Bonam Fortunam,
--Tyler
Komentar:
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Komentar:
Price is holding steady for now. Let's see what happens at cash market open
Komentar:
If we are in our wave 5 of 1 right now the little box inside the big one is the ideal end spot for a more refined target.
Trade aktif:
Closed remaining Tesla puts
Opened Limit order for 25 shares @ $234.75. With intentions on buying more if it goes lower. This is a spec long for a wave 2 retracement and should be traded tightly. Notice AS OF NOW, we're hitting a lower low on higher MACD meaning we have positive divergence.....AS OF NOW. That can easily and quickly change.
Opened Limit order for 25 shares @ $234.75. With intentions on buying more if it goes lower. This is a spec long for a wave 2 retracement and should be traded tightly. Notice AS OF NOW, we're hitting a lower low on higher MACD meaning we have positive divergence.....AS OF NOW. That can easily and quickly change.
Trade aktif:
Order Filled
Komentar:
Barely touched the top of my box. Ideally we get a small wave 4 & 5 for OML right here and then jump for larger wave 2
Komentar:
Think this looks to good to be true?
Komentar:
Passed $239.77 and I lean towards wave 2 has started. If we fall from here and fail to breach the 1.0 then we fall back for another low.
Trade aktif:
Stop limit for my longs is at $237
Komentar:
If price plays out like this I will sell my longs in anticipation of a retrace.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
