Tesla had a very good day today. It gained around $15 and continued going after hours. If this is to follow the count I have on here, it still has a little to go before we finish out this A wave. I want to see us break out of the channel and make another high on the MACD. The retrace that follows, would ideally follow the dotted pathway. The channel would act as a spring to finish wave 5 of A. After wards we drop for B around the high $220's before launching to the $260 area.
This is all speculative at this point as price has to prove its intentions first. Something you may also notice on the chart is the turquoise count along with an orange count. If turquoise is to come to fruition, then I would expect Tesla to bounce off the channel resistance tomorrow and drop with the NASDAQ losing almost everything it gained today. If the orange is to be correct, then that means wave finished this drop down and will be headed for the $300's next.
White = Primary
Turquoise = 1st ALT
Orange = 2nd ALT
Although today answered a few questions, it gave many more. This is the typical cycle with securities. Just as something clears up, another wrench is thrown in your analysis mechanism. However, with the subtle clues price normally gives, a thesis can be developed and tracked over the longer-term and shorter-term trend. Seeing as how EWT states price is fractal in nature, knowing the larger count, gives you a damn good idea of the smaller timeframe counts/structure. Let's hope tomorrow Tesla has enough strength to break through the upper channel, otherwise we may be headed for the low $200's.
Bonam Fortunam,
--Tyler
This is all speculative at this point as price has to prove its intentions first. Something you may also notice on the chart is the turquoise count along with an orange count. If turquoise is to come to fruition, then I would expect Tesla to bounce off the channel resistance tomorrow and drop with the NASDAQ losing almost everything it gained today. If the orange is to be correct, then that means wave finished this drop down and will be headed for the $300's next.
White = Primary
Turquoise = 1st ALT
Orange = 2nd ALT
Although today answered a few questions, it gave many more. This is the typical cycle with securities. Just as something clears up, another wrench is thrown in your analysis mechanism. However, with the subtle clues price normally gives, a thesis can be developed and tracked over the longer-term and shorter-term trend. Seeing as how EWT states price is fractal in nature, knowing the larger count, gives you a damn good idea of the smaller timeframe counts/structure. Let's hope tomorrow Tesla has enough strength to break through the upper channel, otherwise we may be headed for the low $200's.
Bonam Fortunam,
--Tyler
評論:
If this is A wave we have a high chance of selling off after open
手動結束交易:
Scalped another 25 shares with the intention of rebuying lower
評論:
So far so good. OMH cannot be ruled out yet.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
