this is an update to my continued analysis on NKLA. i use elliot wave with fibonacci retracements and extensions to build a road map of where we could be going. i show both bull and bear scenarios but i am leaning towards a bigger sell off of this asset.
i accidentally left out the indicators lol sorry.
The daily rsi saw overbought divergence. i would like to get oversold divergence before going long.
the daily MACD got a bearish cross to the downside a couple days ago and is down trending. very bearish short term
enjoy the video and please make sure you are using your stop loss with an exit strategy people.take the small loss and live to fight another day
thank you for your valuable time
Rigo
i accidentally left out the indicators lol sorry.
The daily rsi saw overbought divergence. i would like to get oversold divergence before going long.
the daily MACD got a bearish cross to the downside a couple days ago and is down trending. very bearish short term
enjoy the video and please make sure you are using your stop loss with an exit strategy people.take the small loss and live to fight another day
thank you for your valuable time
Rigo
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I'll be doing an update on this very soon
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It's time to buy but leave some ammo for the $14 level aka the 95% fibonacci retracement level