Overview: let's review a few key points of the last update:
Update: TSLA minute structure was quite different than my expectation, in that wave I extended lower than I thought. Looking at the hourly chart, I think wave I is now complete and we are in the process of wave II.
Potential targets for wave II peak? (282.31-292)
1) Retracement of wave I: 282.31, 284.68, 286.24, and 290.41.
2) Volume profile of wave I: 284.52 and 289.07 (note that these are not exact).
3) Support and resistance levels: 287.06, 292.25, and 296.48 (note that these are not exact).
- I believe TSLA is close to the completion of wave I of C of (Y) of B.
- Based on the hourly chart, I see that wave III of (c) of I is almost complete and I expect the blue channel to hold the bottom of wave I, initiating the pullback for wave II.
Update: TSLA minute structure was quite different than my expectation, in that wave I extended lower than I thought. Looking at the hourly chart, I think wave I is now complete and we are in the process of wave II.
1) Retracement of wave I: 282.31, 284.68, 286.24, and 290.41.
2) Volume profile of wave I: 284.52 and 289.07 (note that these are not exact).
