Overview: let's review the expectations of the previous update:
Update: TSLA followed our expectations perfectly. My plan is the same as outlined in the previous update. We shall see a nice bullish rally on TSLA, but there are different scenarios possible. This rally can be the start of next bullish phase, or it can be a wave (X) that leads to another zigzag next year, wave (Z). Also, because we are at the very beginning of the development of this leg, we cannot really gain any insight based on its structure, we need to see more price action.
For now, I see the most probable scenario as that we are in wave (X) developing as a zigzag with wave 1 of its first leg being almost complete. Again don't forget, this prediction is not based on much facts (because it's too early to make any), but based on my overall insight on the market. I hope I made my view clear enough on TSLA.
- Wave (IV) of C completed as a zigzag as expected.
- We are in wave 2 of c of (V) of C of (Y).
- This can complete the whole correction on TSLA or it can lead to a wave (X) and another zigzag next year.
- For now, we know that this wave (Y) bottom leads to a sizeable bounce.
Update: TSLA followed our expectations perfectly. My plan is the same as outlined in the previous update. We shall see a nice bullish rally on TSLA, but there are different scenarios possible. This rally can be the start of next bullish phase, or it can be a wave (X) that leads to another zigzag next year, wave (Z). Also, because we are at the very beginning of the development of this leg, we cannot really gain any insight based on its structure, we need to see more price action.
For now, I see the most probable scenario as that we are in wave (X) developing as a zigzag with wave 1 of its first leg being almost complete. Again don't forget, this prediction is not based on much facts (because it's too early to make any), but based on my overall insight on the market. I hope I made my view clear enough on TSLA.
