Tesla (TSLA) - Short Setup
Looking at Tesla on the 1-hour chart, we are observing a potential bearish scenario. The price has retraced into the 0.618 - 0.786 Fibonacci zone, forming a reversal structure in line with Elliott Wave principles.
This zone coincides with the prior breakdown level, making it a critical area of interest.
Trade Details:
- Entry: $462.27
- Stop-loss: $476.65
Targets:
- Target 1: $403.07
- Target 2: $360.66
Analysis:
The current bearish impulse indicates a possible continuation to the downside. With the first target near $403.07 (0.236 extension), this area will be watched closely.
If momentum persists, we could see a push toward $360.66, aligning with the -0.382 extension.
Looking at Tesla on the 1-hour chart, we are observing a potential bearish scenario. The price has retraced into the 0.618 - 0.786 Fibonacci zone, forming a reversal structure in line with Elliott Wave principles.
This zone coincides with the prior breakdown level, making it a critical area of interest.
Trade Details:
- Entry: $462.27
- Stop-loss: $476.65
Targets:
- Target 1: $403.07
- Target 2: $360.66
Analysis:
The current bearish impulse indicates a possible continuation to the downside. With the first target near $403.07 (0.236 extension), this area will be watched closely.
If momentum persists, we could see a push toward $360.66, aligning with the -0.382 extension.
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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.
@ TheStockWhale on Twitter / X
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.