Rivian Update: OML?
Uppdaterad
Boxes on boxes on boxes lol. I'm sure y'all noticed that there are three boxes on this chart. I decided to leave these boxes as I have been able to refine price a couple times to a more accurate area over time. This last move up looks corrective to me and given how small micro-wave 2 was that doesn't really surprise me micro-wave 4 would be larger. We made what some would call a "triple top" right at the 0.382 fib retracement of micro-wave 3 which is a common end point for wave 4's.
If I am correct and this last move up is still apart of wave v of (C) of II, then OML is on the menu. This is where the smallest box comes in. It is my most recent target and where I believe price will conclude this descent down. With-in this box is the 0.786 fib retracement of the entire wave I, 1.382 of primary (A)-(B) of wave II, and major fib confluence right in the center of the box. I didn't place it there due to the fib confluence either. The fib conf. is just another indicator that price is very likely to bottom there.
There is the possibility that we have bottomed already and should move much higher soon but that has changed to my ALT count. For those that will no doubt be wondering, I am holding on to these calls as they don't expire until January of next year. If price does make a bottom in my target area, then I will buy another 20 contracts minimum as I feel it is a great buy and a potentially very lucrative position.
Bonam Fortunam,
--Tyler
If I am correct and this last move up is still apart of wave v of (C) of II, then OML is on the menu. This is where the smallest box comes in. It is my most recent target and where I believe price will conclude this descent down. With-in this box is the 0.786 fib retracement of the entire wave I, 1.382 of primary (A)-(B) of wave II, and major fib confluence right in the center of the box. I didn't place it there due to the fib confluence either. The fib conf. is just another indicator that price is very likely to bottom there.
There is the possibility that we have bottomed already and should move much higher soon but that has changed to my ALT count. For those that will no doubt be wondering, I am holding on to these calls as they don't expire until January of next year. If price does make a bottom in my target area, then I will buy another 20 contracts minimum as I feel it is a great buy and a potentially very lucrative position.
Bonam Fortunam,
--Tyler
Kommentera
Price hits 0.618 and I start buying more contractsKommentera
We have entered the final target box. It appears we are finishing up with the last of our 4's-5's. I will be buying more calls within the next day or two I imagine.Kommentera
OML and I am buying another 20 calls strike $25 exp jan/2024Handel aktiv
20 more calls bought @ .30cents
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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