Looking for a bounce off the 0.5 retracement level for $TSLA. The Fib tool on the chart represents the ideal Wave C to Wave A Fibonacci ratios. It is interesting that the 0.618 wave C to Wave A ratio falls very close to the 0.5 retracement level
Note: The red line is the 0.618 retracement level. A close under the red line invalidates this count.
Assuming the correction ends at or near the 0.5 retracement, I will be looking to enter long and target the 2 price targets listed (ideally the 1.618 extension).
Will we see a bounce at the 0.5 along with an announcement of inclusion in the S&P?
Please let me know your thoughts in the comments and hit the like button!
Note: The red line is the 0.618 retracement level. A close under the red line invalidates this count.
Assuming the correction ends at or near the 0.5 retracement, I will be looking to enter long and target the 2 price targets listed (ideally the 1.618 extension).
Will we see a bounce at the 0.5 along with an announcement of inclusion in the S&P?
Please let me know your thoughts in the comments and hit the like button!