Overview: in the update of last week, I had TSLA in wave b of 2 developing as a triangle and had 145 area as a potential target for wave 2 bottom.
Update: this week we broke down through the support line of the triangle, indicating the start of wave c of 2 as we expected. I see wave (IV) of c of 2 completing early next week, leading to the final push lower to complete wave 2. Based on the structure, fib ratios, retracement of wave 1 and its volume profile, I have 157.6 (favoured for now unless it breaks lower) or 144.29 as my targets for wave 2 bottom.
Update: this week we broke down through the support line of the triangle, indicating the start of wave c of 2 as we expected. I see wave (IV) of c of 2 completing early next week, leading to the final push lower to complete wave 2. Based on the structure, fib ratios, retracement of wave 1 and its volume profile, I have 157.6 (favoured for now unless it breaks lower) or 144.29 as my targets for wave 2 bottom.
