As I have been saying, I have not been very impressed with Tesla lately. The MACD hasn't been moving as it should and has been very weak. For instance, on the 3min chart, MACD made its high during the wave iv portion. This should NEVER happen if it is a to be a healthy impulsive count. There are no rules governing MACD though, so it should be used as a guide only. The count/structure controls everything. My long-term followers know that big count/picture is king. With this in mind, the 4HR chart shows A LOT of strength and the daily chart already has 3 gaps from the $194.07 bottom. Gaps are normally found with-in wave 3's and c's. Not always, but definitely more common to see them in those cases.
Due to the bigger picture remaining clear to me, I am leaving my primary intact. I still feel we have bottomed in wave 2 and started wave (3) on 31 October. IMHO, I feel there is just so much indecision right now due to Elon Musk and his X ventures, that it is starting to screw with the structure of the count. This is not saying he is causing our count to invalidate, but he is 100% giving investors the jitters. This shows with choppiness and weak moves when they should be strong. These micro count indicators could be our first signs the structure is starting to fail. This is part of the risk in trading individual securities though. Right now, it is just still too risky to me to risk my hard-earned capital on. There are MANY other opportunities with waaayyy less risk involved. Take Rivian for instance, it has been on a tear for a couple days now, and the MACD is backing those moves up.
I also want to state that because I am trading $Rivian Automotive, Inc.(RIVN)$ primarily right now, and not Tesla, my posts will mainly focus on Rivian. I post Tesla on here because I know that is what most of my followers want to see. Until it starts to become clearer though, I won't be trading it very much and thus will make less posts on it. I will at minimum make updates as I have been but not a new post every night. Making posts every night when it is so indecisive risks putting out bad/wrong information and I don't want anyone making bad/wrong decisions on account of me.
We either start to retrace for mini-wave 2 of v or continue our move up towards my target box. Until then, good luck and God bless!!
TSLA: Tesla Update: Indecision at it's best
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