It appears from the price actin we got today Tesla is finishing this C wave with an ending diagonal much like the NASDAQ. As you can see on the chart I have 2 channels drawn for this ED and they seem to point to us ending at the green 1.5 fib @ $261.53. This would be just shy of the magical 0.618 y'all always hear me talk about.
If this is to be an ED then once it completes it should move towards where it began and strongly. In this case that is $250.60 and would be a great way to start our next C wave off...with strength. That C wave, as of now, will end sub $200 easy if this is the optimum count. Tomorrow the unemployment rate and non-farm payrolls get released. My assumption is we rise in the pre-market hours to finish out this ED and then when those reports get released, we just tank to the downside.
As I have said in the past, I don't have a crystal ball to tell me what price is going to do. What I do have is a set of rules and guidelines that help me to make accurate target areas of price points before it moves there. To take that a step further, human psyche helps to explain where we are, where we are going, and how we are going to get there. Sometimes there are storms or unforeseen circumstances that make us take detours, but ultimately, we end up at the same spot we planned on.
If price behaves as I have described here TO THE TEE, then I will most likely add 5 more puts. If I do that, I will make a post on here. Feel free to ask questions or just leave a comment. Don't forget to hit that like and follow button to help spread the knowledge!!
Bonam Fortunam,
--Tyler
If this is to be an ED then once it completes it should move towards where it began and strongly. In this case that is $250.60 and would be a great way to start our next C wave off...with strength. That C wave, as of now, will end sub $200 easy if this is the optimum count. Tomorrow the unemployment rate and non-farm payrolls get released. My assumption is we rise in the pre-market hours to finish out this ED and then when those reports get released, we just tank to the downside.
As I have said in the past, I don't have a crystal ball to tell me what price is going to do. What I do have is a set of rules and guidelines that help me to make accurate target areas of price points before it moves there. To take that a step further, human psyche helps to explain where we are, where we are going, and how we are going to get there. Sometimes there are storms or unforeseen circumstances that make us take detours, but ultimately, we end up at the same spot we planned on.
If price behaves as I have described here TO THE TEE, then I will most likely add 5 more puts. If I do that, I will make a post on here. Feel free to ask questions or just leave a comment. Don't forget to hit that like and follow button to help spread the knowledge!!
Bonam Fortunam,
--Tyler
Komen:
So far so good
Komen:
Drop lower seems confirmed due to the fact we have breached the low of wave 4 of a smaller degree. Soon we should have a slight retrace for wave 2 of c as wave 1 looks to be nearing completion if not complete already
Komen:
If this wave 1 is done, then I expect us to raise into this box in a 3-wave corrective pattern before starting our wave i of 3 to the downside.
Komen:
Further we drop the further wave 2 target it is. This thing is already past normal extensions coming up on the 3.0. After that the next common extension point is the 3.618 @ $240.20
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
