Overview: in the update of previous weekend, I had TSLA in wave (III) of a of 3 of (A) of 3 and my potential target for wave (III) peak was 273.46 (preferred) or 275.48.
Update: TSLA followed the proposed path perfectly. We peaked at 279.50 and started wave (IV).
Looking into the hourly chart, I believe wave (IV) is developing as a double zigzag, with one zigzag being already completed.
What follows the completion of wave (IV) is the final push to the upside as wave (V) to complete wave a of 3.
Starting this update, I am going to briefly reflect the concepts of Hurst cyclic analysis in my ideas. As time goes by, we will explore the Hurst principles in more detail and describe them for the interested readers.
I have the bottom of wave (IV) as a 80 day trough, expected to happen on June 29th (end of next week). Also, the bottom of wave b of 3 is a 40 week trough expected around 10th of September.
Update: TSLA followed the proposed path perfectly. We peaked at 279.50 and started wave (IV).
Looking into the hourly chart, I believe wave (IV) is developing as a double zigzag, with one zigzag being already completed.
What follows the completion of wave (IV) is the final push to the upside as wave (V) to complete wave a of 3.
I have the bottom of wave (IV) as a 80 day trough, expected to happen on June 29th (end of next week). Also, the bottom of wave b of 3 is a 40 week trough expected around 10th of September.
