A follower had asked me to update on Rivian the other day so I figured I'd fill y'all in. Although I haven't been posting on it, I have still been tracking Rivian. We have been progressing nicely in our wave II retrace...almost too nicely.
We have completed our (A)-(B) waves and carved out what appears to be waves 1-4 of our C wave (working on the 4th or 5th now). What I expect to see next is a micro-5-wave count down to around the 1.382 fib line. We could extend out to the 1.618 though so be prepared for that. The secret is in the structure.
One thing I want to make you aware of is that we touched the 1.0 of the (A)-(B) wave and one could argue we have a completed structure for (C). If this is to be the case, we would want to see a HUGE jump up in a very bullish scenario to push us to high $30's - low $40's. The structure off of the $17.35 low doesn't seem bullish to me though. It's overlapping and corrective. For this reason, I believe we still have lower to go.
I will post if/when I make any trades on Rivian.
Bonam Fortunam,
--Tyler
We have completed our (A)-(B) waves and carved out what appears to be waves 1-4 of our C wave (working on the 4th or 5th now). What I expect to see next is a micro-5-wave count down to around the 1.382 fib line. We could extend out to the 1.618 though so be prepared for that. The secret is in the structure.
One thing I want to make you aware of is that we touched the 1.0 of the (A)-(B) wave and one could argue we have a completed structure for (C). If this is to be the case, we would want to see a HUGE jump up in a very bullish scenario to push us to high $30's - low $40's. The structure off of the $17.35 low doesn't seem bullish to me though. It's overlapping and corrective. For this reason, I believe we still have lower to go.
I will post if/when I make any trades on Rivian.
Bonam Fortunam,
--Tyler
Note
We have entered into my box. I have an open order for 15 calls exp: 19 Jan strike: $25Trade active
I accidentally bought 20 calls instead of 15 @ .48cents/contract.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.