TSLA Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview:
Let's review the key points of the previous update (October 14th):
Update:
From the peak of 268.94 on October 10th (we had predicted the peak as 268.5) to the close of today, we got a 21% move on TSLA in 10 days, congrats to anyone who played this amazing move based on the analysis that was published.
Analysis of the Structure:
Everything is perfectly on track, but I am doing a small relabeling to my count. I think we are already in wave (c) of y of 2. I am expecting the completion of wave III of (c) on Monday (the fib target is pointing to 208.31 for the low). Wave (c) of y can complete around 190 (when we get wave III and IV in the coming week, we can have a better idea about this target).
Analysis of the Cycles:
We got the 20D cycle trough on October 17th. Now, we are 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.
We have already overshot all the FLD targets, so at this point they can not guide us to find the bottom price.
On Monday (23rd of October), we will get a 5D cycle trough. On Friday (October 27th) we will have a 10D trough and finally, on November 3rd or November 6th we will have the 80D cycle trough.
The next major trough, the 20W cycle is expected in the last week of December or the first week of January (wave (a) of z).
Note that we crossed the 20W VTL this week, confirming that the peak of the current 40W cycle is in, as we expected before (meaning that we will have 6-7 months of bearishness ahead of us).
The 20W FLD was also crossed this week, generating a target of 174 for that trough (wave (a) of z).
Let's review the key points of the previous update (October 14th):
- Wave (3) of A of III of (a) of y of 2.
- 207.58 or 197.10 (higher probability) my potential targets for wave III bottom.
- The first 20D cycle trough of the second 40D cycle on Monday (October 16th).
- Rejection of price by the 80D FLD: bearishness on TSLA.
- May get a cross of 40D VTL confirming the peak of 80D cycle is in.
- 40D cycle trough: October 31st to November 6th (wave III bottom).
- 80D FLD gives a range of target: 207-233.
- 197.10 happening October 31st to November 6th.
Update:
From the peak of 268.94 on October 10th (we had predicted the peak as 268.5) to the close of today, we got a 21% move on TSLA in 10 days, congrats to anyone who played this amazing move based on the analysis that was published.
Analysis of the Structure:
Everything is perfectly on track, but I am doing a small relabeling to my count. I think we are already in wave (c) of y of 2. I am expecting the completion of wave III of (c) on Monday (the fib target is pointing to 208.31 for the low). Wave (c) of y can complete around 190 (when we get wave III and IV in the coming week, we can have a better idea about this target).
Analysis of the Cycles:
We got the 20D cycle trough on October 17th. Now, we are 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.
We have already overshot all the FLD targets, so at this point they can not guide us to find the bottom price.
On Monday (23rd of October), we will get a 5D cycle trough. On Friday (October 27th) we will have a 10D trough and finally, on November 3rd or November 6th we will have the 80D cycle trough.
The next major trough, the 20W cycle is expected in the last week of December or the first week of January (wave (a) of z).
Note that we crossed the 20W VTL this week, confirming that the peak of the current 40W cycle is in, as we expected before (meaning that we will have 6-7 months of bearishness ahead of us).
The 20W FLD was also crossed this week, generating a target of 174 for that trough (wave (a) of z).
