Tesla - Wave 2 Complete and into Wave 3!

🟢 Bias: Bullish

Tesla is showing strong recovery after a corrective move (Wave (2)) and now pushing into Wave (3) territory with momentum. Structure and volume both favor upside continuation.

📊 Technical Breakdown

Elliott Wave Count:

Wave (1) completed at the recent swing high.

Wave (2) retraced into the 0.618 level, respecting demand.

Wave (3) projection is active, targeting 367.72 (next major resistance).

Key Structure:

Price broke the descending trendline and retested it successfully (“Break & Retest” zone).

Demand held strong at the 316 – 320 zone, acting as validation support.

Clear higher highs and higher lows forming, confirming bullish structure.

Indicators & Confluence:

200 EMA reclaimed and holding as support.

Volume increased on bullish candles, showing participation on the breakout.

Ichimoku cloud flipped bullish with price trading above it.

🎯 Trade Idea

Entry Zone: Current levels (330–340) after breakout confirmation.

Target: 367.72 (Wave (3) target level).

Invalidation: Below 314.50 (demand zone + structure invalidation).

🔑 Summary

Tesla is in the early stages of a strong Wave (3) push. Breakout, demand retest, and bullish momentum all align for continuation higher. Expect price to test 367.72 in the next impulsive leg.