$TSLA TOP 20 UPDATE
Added 2023-04-20 10:19:53 +0000 UTCOk this has played out very well for us now so it is important to have a look at the plan again. Few Important things to consider first:
The 0.38 Fib is at: $173
The 0.5 Fib is at: $160
The 0.618 Fib is at: $146
We know that Wave 2 can pull back to anywhere between the 0.38 Fib and the 0.618 Fib and this would be a standard pull back zone for Wave 2, the PM price is already at $167, so we in the Wave 2 zone now.
We are looking at an aggressive drop now and we are not surprised to see this happen in Subwave 3 of Wave 2, as we know, waves 3 are the most aggressive, so this is good to see, which means, we can expect subwave 4 and subwave 5 next. So at some stage, maybe today or tomorrow, we can expect a bounce, for subwave 4.
Let's assume that Wave 2 behaves exactly as we expect, and it comes down to $146 and hits the 0.618 Fib and holds, then this is a really good spot to add.
IF $TSLA does not hold the 0.618 Fib at $146 and shows weakness, then we will be watching for $TSLA to come down lower for Wave X in red, I will be watching to see if it can hold any support levels, mainly the 0.78 Fib and the last support level 0.88 Fib (not shown on this chart) failure to hold these levels and we are into the buy zone.
The plan: let today play out, do not rush in at the opening, there may be a bounce but I believe the lows are not in yet, watch the fib levels for support.
Comments
I see this as the c of the b of the big B. So yes 147 is the main target. 0.786 is the next big Fibonacci support at 129. Could theoretically go to the low of 104 and still build a new interims high before the big C leads to new lows. Did you see the 104$ low as the final one and not just the end of the big A?
rumorandvalue
2023-04-20 13:29:08 +0000 UTCI think the best thing to do is monitor how it holds as it goes through the Fib levels, luckily we update this a lot so we will be ready....it is really a personal preference about adding, it depends on your long term view and how much you intend to allocate towards $TSLA, I suspect $TSLA bulls will be eager to buy if it hits $146 and add if it goes lower.
Gareth Neary
2023-04-20 12:22:44 +0000 UTCAny guidance on the likelihood of buy zone coming into play? Do you recommend adding a certain % at 146 and then watching how it plays out?
faizan baig
2023-04-20 12:19:05 +0000 UTC
