Tesla Update: Buy Entry Incoming

So today was a GREAT day! Price and MACD did EXACTLY as I predicted. To go even further, this wave iv is shaping up to be a deep retrace too (opposite wave ii). All that being said, I don't tell price what to do. There WILL come a time when I am wrong. That is why it is so important and imperative you use stops. This not only protects your profits in a good trade, but it also minimizes your losses.

On this chart there is a decent number of things going on. The first thing I would like to point to is I have drawn a fib extension from a-b of iv. I also drew a fib retracement for wave iii. Also, there is a fib extension from (A)-(B), (i)-(ii), and the 0.5 fib retracement of the whole move from the $217 top to the $151 bottom. Needless to say, there is a lot of fib confluence going on in this area. This increases the chances even more that we will have a wave iv bottom in this area. Once we bottom our next target will be $195.17-$198.08 for wave v of (c) of (C) of ((B)) lol.

I think tomorrow we finish this wave iv around $182-$183. Take a look at our good old friend MACD. It's going up right? I think it makes a little bump to the downside, for the OML price will make on Pos. Div. before heading up to finish this wave v end. If price continues to follow my pathway this closely, then I won't have any choice but to re-enter this trade after the $7 scalp we made in what? 2 days? At the full 80 shares I owned that would be a $1K+ scalp by the time price made it back to my sell point.

Thankfully, I will be off work tomorrow so I will be tracking price all day and will post any and all trades I make. If I enter this trade, I will be controlling it very tightly. No point in losing the profits we just made! Ask questions, make comments, tell your friends if they want the latest on Tesla come check me out and give me a FOLLOW. I will be expanding my coverage basket here soon. That is TBA though, for now, Good Luck my friends!!

Bonam Fortunam,
--Tyler

Сделка активна:

50 shares bought @ $182.27

Комментарий:

We might chop in this area for just a bit, but we shouldn't lower much more. There is a 0.618 retracement fib coming up @ $180 that should halt this move down. As i said...a deep wave iv. Below $176 and I start to think this (C) of ((B)) is over early.

Комментарий:

Let's hope this is the end of iv

Сделка активна:

Stop limit for 30 shares set at $178.5

Комментарий:

MACD seems to be signaling we're headed back up. I question if we will get OML on positive Div. We'll find out, but either way this move down is running out of steam if it isn't out already.

Комментарий:

Temporarily removed stop but I have alarms set and am watching very closely. I think this move down is over though. If one were to enter a position in Tesla, now might be a good time with a stop at $177. That's a $2 risk for potential $10-$20 profit. Your choice, good luck!

Комментарий:

I would like to point out on the 1HR timeframe MACD seems to be setting up nicely for price to make OMH on Neg. Div.
This gives me more confidence that wave v will end in the predicted target box.

Комментарий:

We should be retracting in this 2 of 5 of v to my target box