To be honest, I will much prefer if TSLA has completed a clear 5-waves down. But last Thursday it has moved up strongly on above-average volume. The move up also formed a candlestick reversal pattern: Bullish Engulfing Pattern. Based on my various analyses of different instruments, I believe that the Equity markets have transited from bearish to bullish. If the tide is rising, I don't want to be against it.
Comment:
It seems to be that my entire view that the market will reverse and go up will be invalidated and the market may go down strongly instead. Don't fight the current.
Trade closed: target reached:
Looks like this idea has hit target and didn't hit the stop loss. Sorry guys. Since I started looking longer-term, I rarely update my views. Take note of the stop loss and take profit. That's most important.
