Hi Ellioticians, Tesla is trading impulsively bullish on the 30min chart from the 700.1 lvl. We labelled a five-wave advance in motion, where price can now be ending a wave 3. Ideally wave 3 will end near the Fib. projection ratio of 2.0 and price will start to retrace into a corrective wave 4. If wave 3 extends even higher, then 2.618 Fib. projection ratio can be then next area, where wave 3 can come to an end.
Corrective wave 4 can look for support at the upper parallel channel line and at the former swing low, at the 985.2 lvl..
A break below 887 invalidation lvl. would invalidate the count.
Trade well.
Corrective wave 4 can look for support at the upper parallel channel line and at the former swing low, at the 985.2 lvl..
A break below 887 invalidation lvl. would invalidate the count.
Trade well.