Tesla Update: C has Officially Begun

As I stated in my last post our C wave was imminent. I also stated we were in an ending diagonal and that when they end, they typically reverse hard to their point of origination. You will notice price stuttered when it came to that origination point around the $250 area, then continued its path lower. To go a step further, we easily breached all of the prior wave 4's which is a strong indication the move up is over...at least temporarily.

According to the micros, and even on the 1hr chart our structure appears complete which means we should be in wave 2 of (C). We are also on positive divergence which is another big indicator and bounced .03 cents from the 3.236 fib line. However, we could still get OML before wave 2 starts. I'm not expecting it but wouldn't be surprised in the slightest if we dropped to the 3.618 before raising in wave 2.

My current plan for my puts:
1. If price lowers or staggers before raising again to finish / start wave 2, I will most likely sell them to restrike higher pocketing the profits.
2. If price raises quickly / strongly I will buy more towards the c of 2 wave high adding to what I already have to profit more off of the wave 3 of (C) drop.

Either way I will post any and all trades I make regarding Tesla on here. Feel free to make any comments or questions on here. I work tomorrow so will watch / update as I am able. Good luck everyone!

Bonam Fortunam,
--Tyler

Komentar:

I wake up so see Tesla STARTED in my target box this a.m just to sell off that entire move up in 1 minute. Today should be interesting to say the least.

Trade aktif:

Bought 5 more puts

Trade aktif:

2 more puts added for 12 total and I will stop there

Komentar:

As of now we are on neg divergence. That leads me to believe we should reverse soon.