ElliottWaveBelgium

TSLA - One more push lower before rallying way above 500 ?

Long
NASDAQ:TSLA   Tesla
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
Comment:
Triangle count is still valid.
Give it some more time.
Comment:
TESLA - Let's see if it can go below 400. That would give a great entry possibility
Comment:
* 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 forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.