Rivian Update: Ending Diagonal

1 Ağu 2023

I decided to check back in on Rivian today and see what progress we had made to form a top. It appears to me it is ending in a diagonal. If this line of thinking is correct, then I would expect the end of wave ((5)) to hit somewhere between $28-$30 or so. After this it would have a very steep decline that usually ends where it began...@ $23. If you don't have a stop limit set, I would strongly advise you create one. When that A wave pops, it will catch many off guard and leave little time to react.

I have alerts set and will be watching for it to top soon. Once the decline starts, I will begin to track it again. Until then, good luck everyone.

Bonam Fortunam,
--Tyler

11 Ağu 2023

Not

Thought I would update everyone. The ending diagonal completed and dropped right where it started in the $23 region quickly. It has since continued to drop and will keep dropping until we breach $20 or so. At that point it will be close to completing A wave of this ABC retrace. When we get closer to that point, I will make a new post and most likely be entering a trade soon afterwards.