Today, let's revisit Tesla, where we've had two trades, and both have been remarkably successful. The first trade is still active, and therefore, the new Stop Loss is set at $212.
I believe that Wave 1 has concluded here, hitting the 127.2% Fibonacci level. The rebound has been exceptionally strong, and I don't foresee it holding or reaching new highs. My assumption is that we are now entering Wave 2, inevitably accompanied by an ABC correction. It could potentially develop into a double or triple ABC, but the specifics will unfold over time.
Certainly, the price will need to dip for the Wave 2 correction, and I anticipate it finding support between the 50% and 61.8% Fibonacci levels. Time will tell. 📈✨
💯 Free
✅ Swing & Intraday Trading
✅ Chart Requests
✅ Everyday more than 4 posts
✅ Total <1100 Members
Also on:
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.