Wave IV went lower than expected, but the count is still possible. As noted on the chart, there are a couple of reasons for wave IV support at this level.
Keep in mind that on the larger timeframe, price is at the end of a final wave 5, so the eventual direction of the price is down. A break of the wave I high invalidates the possibility of a wave V.
Interesting day for Tesla today !
Good luck !
Keep in mind that on the larger timeframe, price is at the end of a final wave 5, so the eventual direction of the price is down. A break of the wave I high invalidates the possibility of a wave V.
Interesting day for Tesla today !
Good luck !
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Related publications
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.