Rivian Update: Did we bottom yet?

2023年10月31日

Today I bought another 20 calls that exp 01/24 with a strike of $25. That gives me a total of 40 calls @ $0.40cents avg price. If price makes another low, I might just buy another 10-20 calls. Today however, we hit $0.01 from the 0.786 fib retracement and proceeded to have a pretty strong retrace after that. On the 3min chart we came just shy of making a new high on MACD. Had we made that new high, I would say probability we bottomed to be high. Since we didn't, I would say there is a 50/50 shot at this time. Should we continue to raise tomorrow and make that new high then it will be a nice big indicator we're headed up.

Until we get our answers, I am content with my positioning. Should price move in my favor this will be a very lucrative trade. Good Luck all!!

Bonam Fortunam,
--Tyler

2023年10月31日

註釋

First line breached

2023年10月31日

註釋

This is a micro 5 wave count right here. It needs to be followed by a 3 wave retrace and then take off impulsively. That will confirm we have in fact bottomed in wave II and started wave ((1)) of III.

2023年11月2日

註釋

LOOKING GOOD!


Here is the 3min showing we breached both lines I made on the MACD