TSLA trade ideas
TSLA falls steadily.As we can see on the daily timeframe, starting from April 14, the price has been moving in a downward channel and Tesla has dropped by 30% from its highs that were in January of this year. Now the price has bounced off the support level and growth is possible, but most likely the price will continue to fall and may drop to $ 500 or $ 450, which will already be 50% of the January maximum. If the price drops to $ 450 or even lower, you can take it.
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# INVERTED HEAD AND SHOULDER #TSLA #RSI DIVERGENCE # 1H#TSLA at a crucial level consolidating for a brakeout.#INVERTED HEAD AND SHOULDER #GO LONG
TESLATESLA
HIT 38.2% retracement
Make A swing Bottom
Form a Morning Star candlestick Pattern
Can create near term bullish outlook
as long as hold Swing Bottom low
RSI exit the oversold
Swing Bottom Gets Created
Based on Higher low and Higher High
L > L1-
L1-< L-2
H > H-1
H-1 < H-2
Today body gap up
yesterday body gap down
If moving average is crossed then trend can get confirmed.
Price above average is up trend and Price below down trend is down trend.
As a result of swing bottom based on above logic.
low of swing bottom critical formed in 2 day for any reversal process to resume and further to get confirmed.
This is strategy. How one can look at in combination of retracement, candlestick and RSI
This is for educational purpose and not a buy or sell.
The above comments are based on chart observation of indication and candle patterns.
TSLA may touch range of 470 to 388TSLA may touch range of 470 to 388.
In order to support my opinion below reason are listed.
1. Current trend following ABCD pattern with correct Fibo ratio on daily and weekly chart
2. Weekly breakout retest at 505 and 430.
3.On hourly chart making rising box
Tesla in Buy ModeReasons For Trade-
1: Risk Reward 1:3
2.4 Hr chart shows buyers strength
3.daily chart has taken support on trend line created from march
4. price created good base on 1 hr chart for upward movement
5. Price has good support on 20+50+200 days Moving average around 700
6.Fundamentally Strong company so buy on dips recommended for positional
TESLA - Head and shoulder patternPrice forming perfect head and shoulder pattern and it is trading near the trend line. Good to enter if breaks the trend line and move further up. Target given !!
Live Intraday Trading - Trading a channel breakout !!!Things to watch :
1.Entry point
2.Adding to long
3.Covering newly added positions
4.Channel breakout
TSLA : Looking for Long opportunity!TSLA is looking for long opportunity to take the move to the upside.
SellEWT count is marked on chart. TSLA in 4th wave of corrective wave. Ideally it should stop at 38.2-50% of wave 3 but it can stretch to 61.8% ( can't take out low of 1). Price can retrace to 745-750 and then reverse for 350-380 zone. 777 is the GAP resistance which should not be taken out if this wave count is right.
Disc : it's not an investment advice to buy or sell
