Tesla Update: Where to next?

That is a big question right now. To me, there are so many different counts that can play out from here, and trying to dissect them all to pick just one as a primary is not easy. I wanted to remind everyone where we're headed in the long term according to my count. The chart below shows the pathway I would like to see Tesla make. These targets are not spaced for time, they are spaced for your viewing pleasure. Also, these are not set in stone as price can, and very likely will extend as it has done so many other times in the past. So don't hold me to any timetables.

For the very near term though the main chart shows a 15min close up of price. We have waves 1-4 completed at this time and need OML (below $228.18) to complete the count. Also, I would like to see it happen on pos. div. before we start to move up. At this current time if price makes even the slightest new low and MACD has NOT made a new low then the count can be considered complete, and we would be headed up to finish out (B).

The current target I would like to see is around the 0.5 fib retracement between $225-$227. This would also be at the 0.618 fib extension in relation to wave 1. You see now how there are MULTIPLE things piling up and pointing towards this direction. It's not just one thing pushing me to this conclusion.

One thing I want EVERYONE to remember, WE ARE TRADING COUNTER TREND. If you are devoting capital to this trade, I highly suggest you know your risk tolerance before you enter a position. This thing can turn on us in a dime and leave you with your little whistle flapping in the wind.

I am off tomorrow but have to take my grandma to an eye appointment so I may be unavailable until the afternoon. As always though, if I make any trades, I will post them on here as soon as I can.

Bonam Fortunam,
--Tyler

P.S: Big shoutout to my followers! I will most likely pass 1K tonight and I appreciate each and every one of you!

Trade aktif:

Bought 10 shares. Like I said I am playing this small and tight

Komentar:

We have hit OML on positive divergence and breached wave 4 high so I believe this is headed up from here. I'm also tracking a possible impulsive start higher which would be the C wave I am expecting. I am staying at my 10 shares for now as I am also going to be shorting the S&P or NASDAQ soon. If both of those head lower, I imagine Tesla will follow suite.

Komentar:

Stop upped to $231 for a minimum of a small $2/share profit. Again, that's not very much but because of my analysis and strategy this is a 0% stress trade. I entered with very low risk, very low % of my portfolio, and this causes GREED & FEAR to lose ALL power over me. When you can do this you will be more successful I promise. Less stressful trades = More successful trades!!

Komentar:

If this follows the ES and NASDAQ, which I bet it will, this has a high probability of coming to fruition and something I felt everyone should be aware of before the weekend. It doesn't mean it will but that it is something I am considering.