Yesterday, I made updates throughout the day, for two reasons. First being, I wanted to keep everyone in the loop as to what Tesla was doing, when it topped, and to explain the price action that led me to sell my shares. Secondly, I wanted to show you all that when used correctly, EWT can be an EXTREMELY effective tool to use when trying to predict securities movements. If you followed along with me yesterday, you saw first-hand, in real time, how accurate I was. If you didn't follow along, check out my post labeled "Approaching the End of (A) Wave". My Tesla posts are tagged at the bottom.
These price movements are predictable for the most part, and there are times when counts breakdown and invalidate. EWT is also only as good as it's user. If you aren't able to correctly identify these different waves, it becomes very difficult to make predictions as they are based off of measurements from wave to wave. All this being said...
Today, I expect one of two things from Tesla.
1. Primary Count--Tesla will drop approximately 3% today and complete, or almost complete, our (c) of (B) of ((B)). I was expecting around $155-$160 but after sitting down and thoroughly going over all price action we have had, I want to amend that target zone. The reason being, so far on this retrace we have hit just above the 0.382 retracement fib of wave (A) which is as normal as it gets. The next stop would normally be the 0.236 @ $165.21 as I explained yesterday. Now this is where my primary and ALT count differs.
2. ALT count--The 0.618 retracement fib (blue fib) area from the bottom of ((A)) to the top of (A), should be a "normal" end point for wave (B). That area is $160.02. Also, the 1.0 of the (a)-(b) is $167.28. If this count is to be the case, then that means Tesla would most likely need to sub-divide again to reach the lower area of $160. Hence the sub-divided turquoise count. If price acts corrective and tags the 1.0, then back up around $171, then drops impulsively, that signifies the count sub-divided again and we are most likely headed lower to the $160 region.
Either way, this moves to me appears as if Tesla is headed down today to consolidate some gains. The questions are, what path and how deep? How do we tell the difference?
If price moves impulsively and breaches the 1.0 @ 167.28 to about $165ish, and then starts to move up impulsively, wave (B) would most likely have been completed. Both counts are equally possible at this time. The only thing to do now is watch and listen to the chart. It will show you its intentions if you look hard enough and tell you it's path if you listen with intent. I have another busy day ahead of me, but I will try to keep you all updated throughout the day and will alert y'all if I buy back my Tesla.
Here is the 1D chart of Tesla to give y'all a better look at my long-term path for Tesla during this wave ((2)).
As always, please post your questions/comments. I will respond to them with-in 24hrs.
Bonam Fortunam,
--Tyler
These price movements are predictable for the most part, and there are times when counts breakdown and invalidate. EWT is also only as good as it's user. If you aren't able to correctly identify these different waves, it becomes very difficult to make predictions as they are based off of measurements from wave to wave. All this being said...
Today, I expect one of two things from Tesla.
1. Primary Count--Tesla will drop approximately 3% today and complete, or almost complete, our (c) of (B) of ((B)). I was expecting around $155-$160 but after sitting down and thoroughly going over all price action we have had, I want to amend that target zone. The reason being, so far on this retrace we have hit just above the 0.382 retracement fib of wave (A) which is as normal as it gets. The next stop would normally be the 0.236 @ $165.21 as I explained yesterday. Now this is where my primary and ALT count differs.
2. ALT count--The 0.618 retracement fib (blue fib) area from the bottom of ((A)) to the top of (A), should be a "normal" end point for wave (B). That area is $160.02. Also, the 1.0 of the (a)-(b) is $167.28. If this count is to be the case, then that means Tesla would most likely need to sub-divide again to reach the lower area of $160. Hence the sub-divided turquoise count. If price acts corrective and tags the 1.0, then back up around $171, then drops impulsively, that signifies the count sub-divided again and we are most likely headed lower to the $160 region.
Either way, this moves to me appears as if Tesla is headed down today to consolidate some gains. The questions are, what path and how deep? How do we tell the difference?
If price moves impulsively and breaches the 1.0 @ 167.28 to about $165ish, and then starts to move up impulsively, wave (B) would most likely have been completed. Both counts are equally possible at this time. The only thing to do now is watch and listen to the chart. It will show you its intentions if you look hard enough and tell you it's path if you listen with intent. I have another busy day ahead of me, but I will try to keep you all updated throughout the day and will alert y'all if I buy back my Tesla.
Here is the 1D chart of Tesla to give y'all a better look at my long-term path for Tesla during this wave ((2)).
As always, please post your questions/comments. I will respond to them with-in 24hrs.
Bonam Fortunam,
--Tyler
Commentaire:
So far this morning our price action has been corrective. I know this because it is overlapping.
Commentaire:
We have breached the 1.0. Now if we move upwards in a corrective 3-wave fashion to the $171 area I expect an impulsive move down for our final c wave of wave (B)
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
