Hello traders and investors!
Today we are considering the idea that Tesla (TSLA) can reach a target between $1,400 and $2,600.
As far as I can see we are in a corrective structure. I consider it as a simple (and relatively) shallow zigzag to complete primary wave 4 and "follow" the guideline of alternation with primary 2 (complex and deep WXY correction). If this structure will eventually unfold as zigzag (with a B wave as a triangle) we should also see market geometry respected:
a) wave 4 = 38.4% of Wave 3 at the middle line of pitchfork connected between cycle 1 and cycle 2
b) primary wave 4 completion in the region of intermediate 4 of lower degree
Targets:
$1,400 if primary wave 5 = 61.8% of primary wave 1
$2,600 if primary wave 5 = 100% of primary wave 1
Let's see what happens next.... as usual no rush to buy the dip
Today we are considering the idea that Tesla (TSLA) can reach a target between $1,400 and $2,600.
As far as I can see we are in a corrective structure. I consider it as a simple (and relatively) shallow zigzag to complete primary wave 4 and "follow" the guideline of alternation with primary 2 (complex and deep WXY correction). If this structure will eventually unfold as zigzag (with a B wave as a triangle) we should also see market geometry respected:
a) wave 4 = 38.4% of Wave 3 at the middle line of pitchfork connected between cycle 1 and cycle 2
b) primary wave 4 completion in the region of intermediate 4 of lower degree
Targets:
$1,400 if primary wave 5 = 61.8% of primary wave 1
$2,600 if primary wave 5 = 100% of primary wave 1
Let's see what happens next.... as usual no rush to buy the dip
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