Rivian always seems to be so volatile. I think i'ts partially due to the fact it doesn't have as large of a group that trades it such as others like AAPL or TSLA. Either way, it appears we have our a-b wave complete for this move down and should make another trek lower to hopefully bottom before we jump in wave 3 of (3).
As many of you know I placed a limit order to buy 500 shares @ $14 and price dipped down to $14.02 and then proceeded to jump almost $1. I don't chase prices though, and the fact that it dropped back all the way to $14.50 just goes to show why. We might not fall back down to $14 as I am predicting, but i am willing to have patience and wait it out because that is what my count dictates. If you enter a trade based on your count, it's easier to exit according to your count, as you're not trading with emotion.
Tomorrow, based on structure, I will most likely start to layer into this trade around the #13.50-$14 area. Again, this depends on how price moves.
Above $15 and I have to start seriously considering we bottomed in 2 already, and an impulsive move above $15.68 confirms we're in 3 of (3).
Bonam Fortunam,
--Tyler
As many of you know I placed a limit order to buy 500 shares @ $14 and price dipped down to $14.02 and then proceeded to jump almost $1. I don't chase prices though, and the fact that it dropped back all the way to $14.50 just goes to show why. We might not fall back down to $14 as I am predicting, but i am willing to have patience and wait it out because that is what my count dictates. If you enter a trade based on your count, it's easier to exit according to your count, as you're not trading with emotion.
Tomorrow, based on structure, I will most likely start to layer into this trade around the #13.50-$14 area. Again, this depends on how price moves.
Above $15 and I have to start seriously considering we bottomed in 2 already, and an impulsive move above $15.68 confirms we're in 3 of (3).
Bonam Fortunam,
--Tyler
Trade active:
I thought I posted this already, but I bought 100 shares @ $14.51. Just a precautionary measure in the event price doesn't come back down I got some at these low prices. But if it does then it would most likely only be around $100 against me which is completely acceptable according to my risk tolerance.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Primary: Buy in layers as price drops towards the goal of around $13.5 for a total of 1000 shares.
Secondary: Price breaches $15.07 and I start to buy market orders on pull backs.
No matter what happens I will post my buys as you all know.