The chart above shows my primary count while the lower one shows my alternate count. With the two different counts, there are just too many fib lines for me to keep things straight let alone all of my readers lol. MACD seems to overwhelmingly support the bear count theory, however, in true Tesla/market fashion it has to try and confuse us. All time frames except the 3min & 1Hr point to us heading much lower from here, AKA neg. div. You will notice on the above chart the MACD has two arrows that show/explain this. Sure, the average person will look at that and say, "those look the same to me", but when stretched out the left is clearly higher and has a reading of 4.11 vs. the right peak at 4.06. These little things are the clues I talk about and the most important ones that are typically overlooked/often missed. We also have major fib confluence at the $280 area with the 0.786 retracement and 1.618 ext. that price, thus far, has been unable to reach. I'm not saying that it won't, just simply pointing out that it hasn't.
We hit the 1.0 (green fibs) for completion of the a-b completing C of (B). Not to mention even with the NASDAQ rallying almost 200 points today at its peak Tesla was unable to make a new high? That seems kind of odd for a stock that is about to soar doesn't it? Also, the upside price action that we have seen since the recent low of $266 has been nothing but overlapping. That screams corrective structure as it would be very difficult to argue it's a diagonal. According to my analysis, Tesla is about to head lower REGARDLESS of if we are in a bear or bull market.
This brings me to my dire hard Tesla fans that feel we are about to lift off. I'm not saying it's impossible, but even with a bull count we need a real retrace before moving higher again. In the below chart you will notice all of my labels are in turquoise and is not very detailed. This is to attempt some sort of continuity and help indicate the chart is NOT my primary. As you see, the recent high of $278 would be considered our wave v of 1 of (3) of 3. After a fully completed 5-wave move completes, a 3-wave retracement takes place EVERYTIME. So, that being said, if this count is correct, we should move down next in the zig-zag structure I have labeled to the box I have as my target. After this we would be starting 3 of (3) of larger 3...imagine how strong that would/will be. I say "will" because I feel that time is coming soon...but we have to shed just under $100 by my count before we can start that lift off towards a target of $325....MINIMUM. The MACD on the 3min & 1Hr timeframes supports this bull theory.
Until Tesla decides to lift up her skirt and show us what she has hiding underneath the hood, I'm sitting out (aside from current position) and trading the index's as they are much clear at this point and time. As always, I will post any trades I make. Tomorrow I'm off so will try to keep y'all updated if anything crazy happens or we finally start to get a little clarity.
Bonam Fortunam,
--Tyler
We hit the 1.0 (green fibs) for completion of the a-b completing C of (B). Not to mention even with the NASDAQ rallying almost 200 points today at its peak Tesla was unable to make a new high? That seems kind of odd for a stock that is about to soar doesn't it? Also, the upside price action that we have seen since the recent low of $266 has been nothing but overlapping. That screams corrective structure as it would be very difficult to argue it's a diagonal. According to my analysis, Tesla is about to head lower REGARDLESS of if we are in a bear or bull market.
This brings me to my dire hard Tesla fans that feel we are about to lift off. I'm not saying it's impossible, but even with a bull count we need a real retrace before moving higher again. In the below chart you will notice all of my labels are in turquoise and is not very detailed. This is to attempt some sort of continuity and help indicate the chart is NOT my primary. As you see, the recent high of $278 would be considered our wave v of 1 of (3) of 3. After a fully completed 5-wave move completes, a 3-wave retracement takes place EVERYTIME. So, that being said, if this count is correct, we should move down next in the zig-zag structure I have labeled to the box I have as my target. After this we would be starting 3 of (3) of larger 3...imagine how strong that would/will be. I say "will" because I feel that time is coming soon...but we have to shed just under $100 by my count before we can start that lift off towards a target of $325....MINIMUM. The MACD on the 3min & 1Hr timeframes supports this bull theory.
Until Tesla decides to lift up her skirt and show us what she has hiding underneath the hood, I'm sitting out (aside from current position) and trading the index's as they are much clear at this point and time. As always, I will post any trades I make. Tomorrow I'm off so will try to keep y'all updated if anything crazy happens or we finally start to get a little clarity.
Bonam Fortunam,
--Tyler
코멘트:
My target didn't fit in the chart I shared but I anticipate this move down ending in the low $180's. Until we get confirmation let alone waves 1-2 everything is just conjecture at this point. Price needs to prove itself first.
코멘트:
Made a new high on neg div (at this time) during pre-market. Today will be interesting for sure
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
