The size of this move up needs an adjustment to the EW count, the bigger timeframe count remains the same, 420 as target. The question is, how high will this wave (b) go? It could already be over. If there's another leg higher, to even test the broken trendline, it will be fast in time. Should this rally become bigger and take much longer, an alternative wave b (circle) triangle would have to be considered. For now this rally looks like a dead cat bounce and offers a nice place to exit long or enter short positions, for those brave enough.
"how high will this wave (b) go? It could already be over."
Looks like you nailed that turn! Down it goes. Or am I declaring victory too soon? I am short TSLA and looking to sell puts and buy calls when TSLA gets down to 420.
bjorn2z
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"For now this rally looks like a dead cat bounce and offers a nice place to exit long or enter short positions, for those brave enough."
Very unequivocal and actionable. I wish more analysts were this clear.
Looks like you nailed that turn! Down it goes. Or am I declaring victory too soon? I am short TSLA and looking to sell puts and buy calls when TSLA gets down to 420.