Tesla Update: Possible Buy/Re-Entry Opportunity

If you are one of my followers, you know that I sold the majority of my Tesla position @ $172.50. When we hit this (B) bottom, or get close to the it, I plan on re-entering the trade. My hope is that I can pick up another 80 shares around the $160-$162 area. Once we hit this next top for our B wave, I will be able to give a more accurate entry target for (B).

The CPI report will be released within the next few hours, and according to reports, inflation is expected to rise by around 0.4%. This could cause the markets to react and become very volatile. All I can say is have patience and trade with your head, not your emotions.

Marked on the chart I have changed the turquoise count to my primary. This move has been corrective and would set us up to move a little lower as I thought we needed to. The MACD has reset and is ready for another drop too.

I imagine this morning; we trend slightly up continuing to carve our B wave until the CPI report is released. This will most likely be our catalyst for the push lower in our C of (B). It is very possible we finish this move lower today. If not, we shouldn't go much further then Thursday. Thankfully, I am off tomorrow so I will update y'all throughout the day as we progress if we have enough action. This could be another example of how, when used appropriately, EWT can predict price action with scary precision. Let's hope volume is high enough!!

I will post ANY and ALL trades I make.

Bonam Fortunam,
--Tyler

Commentaire:

I would also like to point out that yesterday I called for a 3% drop and by 11:30a.m we had dropped -2.91%. Don't take my word for it, look at my post and check the closing price from day before to the LOD. Make sure to hit the follow button!!

Commentaire:

We are coming into my target for wave B. Next we should head down for C

Commentaire:

CPI lower then expected. Inflation still rose...and Tesla still looks poised to drop next

Commentaire:

We are starting to appear impulsive to the upside. Keep your wits about you

Commentaire:

Tesla came up and tagged $174.43 and then started to move lower. With this high of a retracement, I think it is more likely this turns into a flat ABC retrace and we should bottom right around $166.57. It is at this point, depending on structure, I will add back the shares I sold before and probably a little more so I will have a total of 100 shares. As always, I will post a trade alert if/when I make any trades.

Transaction en cours:

Limit order placed for 50 shares @ $166.57

Commentaire:

OML needed to make this 5-wave structure appear complete.

Transaction en cours:

Bought 30 additional shares. DO NOT MISUNDERSTAND ME. I fully believe price is going down more but I am layering into this trade and seeing as I sold at 172.5 this is over a $5 sale for me

Commentaire:

Scalp

Commentaire:

Looking at the 1minute fractals it appears Tesla bottomed in (B) wave 0.12 cents above the 1.0 fib line. It should be carving out its wave iv right about now. When it is towards the bottom of it (about $168.22) I will buy about 30 more shares. There is a good chance we tag a little below that target but even if we do it shouldn't be much.

Commentaire:

Transaction en cours:

bought 30 additional shares @ 168.25

Commentaire:

HAHAHAHAHAHA Did I call that bottom for waved iv or what!!!!

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