What do we do with Tesla.... Breathtaking run up has shorts scrambling for cover.
I'm initiating a Sell... I think this is an important inflection point.
Analyzing price structure on a weekly log (to get adequate perspective) I believe this recent run up represents a wave 4 of a large "A" wave in the long term view. EW alternation of wave 2-4 exist here. Wave 2 was complex wave 4 at this point appears simple.
Risk-reward at this point is ideal.
Notice the current weekly Doji that just printed at the point of MAJOR confluence. I will use this as a stop point...
I will be updating with shorter term charts as the move unfolds.
Weekly View
Weekly Doji
I'm initiating a Sell... I think this is an important inflection point.
Analyzing price structure on a weekly log (to get adequate perspective) I believe this recent run up represents a wave 4 of a large "A" wave in the long term view. EW alternation of wave 2-4 exist here. Wave 2 was complex wave 4 at this point appears simple.
Risk-reward at this point is ideal.
Notice the current weekly Doji that just printed at the point of MAJOR confluence. I will use this as a stop point...
I will be updating with shorter term charts as the move unfolds.
Weekly View
Weekly Doji
評論:
I have a saying..."live by he LOG die by the LOG" Here are my graphic thoughts...
WEEKLY LOG LINE chart.... I believe the correction this stock has been in since Nov '21 is a wave 4. That being the case price should tag the lower yellow channel line at some point. How it gets there is the trick. The current position is a good risk-reward point for this possible scenario. I have not initiated my short yet. Waiting for the set-up that has yet to materialize.
WEEKLY LOG LINE chart.... I believe the correction this stock has been in since Nov '21 is a wave 4. That being the case price should tag the lower yellow channel line at some point. How it gets there is the trick. The current position is a good risk-reward point for this possible scenario. I have not initiated my short yet. Waiting for the set-up that has yet to materialize.
Here is an alternate wave count in LINEAR mode. This count suggest a short term top fallowed by a significant rally taking out the Feb 9th high.