Tesla - Going for $2,000
I want to start by pointing out, that I'm quite new to using the Elliot Wave pattern to identify potential trade setups, so if you disagree with my chart, please take the time to explain where I got it wrong in your opinion.
That said, based on the current rally, I can imagine the fourth wave falling as low as $1,195 with a fifth wave that reaches $1,900 to $2,000.
Based on that I personally placed a few pending buy orders at $1,195, $1,260, and $1,330 with a TP at $2,000. Although if it plays out like this, I'll probably remove the TP along the way a replace it with a trailing stop.
What do you think?
That said, based on the current rally, I can imagine the fourth wave falling as low as $1,195 with a fifth wave that reaches $1,900 to $2,000.
Based on that I personally placed a few pending buy orders at $1,195, $1,260, and $1,330 with a TP at $2,000. Although if it plays out like this, I'll probably remove the TP along the way a replace it with a trailing stop.
What do you think?
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