TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview:
Let's review the key points of the previous update (October 20th):
Update:
Every point mentioned in the summary above actually happened this week.
Analysis of the Structure:
Wave IV of (c) of Y developed (not complete yet) as a triangle. I see wave IV completion Monday early morning, then we will have a week of bearishness to bottom around 180 as wave y of 2. This will lead to a few weeks of bullish price action.
Wave IV is not complete yet and that is the reason I am not giving a precise target for wave y bottom, but it will be around 180.
Analysis of the Cycles:
Right now, we are in the last 10D cycle of the current 80D cycle. As mentioned before, I am expecting the 80D cycle trough on November 3rd.
This means next week is gonna be aggressively bearish, also the bounce out of this trough is gonna be strongly bullish.
An interesting fact is that the 80W cycle FLD is sitting right at 182 next week on November 3rd!
Let's review the key points of the previous update (October 20th):
- Wave (c) of y of 2.
- Completion of wave III of (c) on Monday.
- (c) of y can complete around 190.
- Had a 20D cycle trough on October 17th.
- Currently, in the first 5D cycle of the first 10D cycle of the second 20D cycle of the second 40D cycle of the current 80D cycle.
- Already overshot all the FLD targets, they can not guide us to find the bottom price.
- Monday (23rd of October) is a 5D cycle trough and Friday (October 27th) we will have a 10D trough.
- November 3rd or November 6th we will have the 80D cycle trough.
- 20W cycle is expected in the last week of December or the first week of January (wave (a) of z).
- 6-7 months of bearishness ahead of us.
- 20W FLD generated a target of 174 for that trough (wave (a) of z).
Update:
Every point mentioned in the summary above actually happened this week.
Analysis of the Structure:
Wave IV of (c) of Y developed (not complete yet) as a triangle. I see wave IV completion Monday early morning, then we will have a week of bearishness to bottom around 180 as wave y of 2. This will lead to a few weeks of bullish price action.
Wave IV is not complete yet and that is the reason I am not giving a precise target for wave y bottom, but it will be around 180.
Analysis of the Cycles:
Right now, we are in the last 10D cycle of the current 80D cycle. As mentioned before, I am expecting the 80D cycle trough on November 3rd.
This means next week is gonna be aggressively bearish, also the bounce out of this trough is gonna be strongly bullish.
An interesting fact is that the 80W cycle FLD is sitting right at 182 next week on November 3rd!
