Using multiple Fib retracement graphs, it is evident that the price is retracing along the horizontal green line as seen on the graphj.
Standard indicators of the uptrend are such as parabollic sar is and EMA are showing supporting this movememt.
Using FIB extension, it is evident that the trend will reach its peak at the level of 0.618 or 1700 USD
"Trade responsibly, this is not a trade suggestion but an analysis"
Standard indicators of the uptrend are such as parabollic sar is and EMA are showing supporting this movememt.
Using FIB extension, it is evident that the trend will reach its peak at the level of 0.618 or 1700 USD
"Trade responsibly, this is not a trade suggestion but an analysis"
Note
As you can see TESLA DID end up shooting marginally close to 1700 ( 1695) however this was a very short run and would have benefited someone if they had a order placed in that region
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.
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.