Tesla Update: Is wave (2) over?

It appears we started our wave (2) off a tad early. The move up looks like it could be interpreted as an impulsive start to a new bullish count. That is very possible, however given where we are at in the count according to my analysis, I feel it was just the c wave of wave (2).

I don't have much time so I'm going to cut straight to the point. We could still make another high before falling down towards our next target. The fibs lines to be watching for resistance are the 0.618 & 0.786 retracement fibs (blue fibs), and the 0.236 fib bright above the 0.618 blue fib. There is also a 1.618 fib of the a-b move up. So, as you see there is a lot of resistance to the upside and not much to the downside.

When we fall, I expect us to hit the $230's before a minor wave 4 retrace.

I have to work tomorrow but will watch/update as much as I can.

Bonam Fortunam,
--Tyler

Giao dịch được đóng thủ công:

We should get a little retrace next with the NQ so I will close my puts this morning for a profit and restrike on the retrace

Bình luận:

The high I have labeled (2) could technically be considered iv of (1). It seems to be very deep for a wave 4 which is why I counted it as (2). The NASDAQ (NQ) is currently in a wave 4 retrace right now. When it drops for wave 5 Tesla will most likely fall with it and clear up the pattern. I will be looking at puts before it falls to possibly buy back a couple.

Bình luận:

I went back over the count and with today's price action this seem to be the most likely place of where we are in the count. I would expect neg div to be starting to unfold very soon. Once I think we hit close to our local high I will buy 5 or so puts to start out with.

Bình luận:

neg div right on schedule. this move up should be ending soon with OMH, maybe 2 slight highs to come before we fall back down ideally

Giao dịch đang hoạt động:

Bought 3 puts with same info as last
strike $215
exp 9/29

Giao dịch đang hoạt động:

Bought 3 more puts