TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: since July 9th, we have been expecting wave b of 3 (40 week cycle trough) on TSLA to happen on the third week of August around 230.
In the update of Aug 5th, I added two points that I think the 40W trough is going to happen sooner (~16th of August) and the 80D cycle FLD price target is 231 for the upcoming trough (the trend underlying that wave is down, so we should overshoot this target).
Update:
Analysis of the Structure:
We are inside wave (c) of b of 3. Looking into the hourly chart, I think we are in wave IV of (c), which should complete by Wednesday, then start wave V.
Analysis of the Cycles: on Friday, we completed the first 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle.
This should lead to a small bounce, which I think will be rejected by the 10D FLD around 247.
The rest is not changed, we have the 80D cycle FLD price target of 231 which should be overshot (as before, my target is 225.50). For the time target of when to expect the 40W trough, I am having the 25-29th of August.
In the update of Aug 5th, I added two points that I think the 40W trough is going to happen sooner (~16th of August) and the 80D cycle FLD price target is 231 for the upcoming trough (the trend underlying that wave is down, so we should overshoot this target).
Update:
Analysis of the Structure:
We are inside wave (c) of b of 3. Looking into the hourly chart, I think we are in wave IV of (c), which should complete by Wednesday, then start wave V.
Analysis of the Cycles: on Friday, we completed the first 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle.
This should lead to a small bounce, which I think will be rejected by the 10D FLD around 247.
The rest is not changed, we have the 80D cycle FLD price target of 231 which should be overshot (as before, my target is 225.50). For the time target of when to expect the 40W trough, I am having the 25-29th of August.
