TSLA - One more push lower before rallying way above 500 ?
We're in a wave 4 that seems to be taking the form of a Triangle.
Measures have been respected for now, each leg being 61.8% to 78.6% of the prior move.
This makes us believe that wave D and E of the Triangle can be of the same proportions.
But if price keeps on going higher now, we could then be in Flat correction , which could take wave B up to the noted 1.272 - 1.382 zone before going back down to 350-ish (needs to be recalculated depending on B of course).
Bigger picture
Measures have been respected for now, each leg being 61.8% to 78.6% of the prior move.
This makes us believe that wave D and E of the Triangle can be of the same proportions.
But if price keeps on going higher now, we could then be in Flat correction , which could take wave B up to the noted 1.272 - 1.382 zone before going back down to 350-ish (needs to be recalculated depending on B of course).
Bigger picture
Comentarios:
TESLA - Let's see if it can go below 400. That would give a great entry possibility
Comentarios:
* to trade this rise, I went bought the Nov20 450 Call and sold the 500 Call.
(Don't use options if you don't know what you are doing ! You'll get crushed !)
(Don't use options if you don't know what you are doing ! You'll get crushed !)
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Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Give it some more time.