TSLA Cycles / Repeated Patterns
TSLA looks to be going thru a repeated cycle since it marked its bottom at the start of 2023. Currently TSLA is in a rising channel with mirroring patterns inside
Cycle 1 (January-February)
1st leg up
Cycle 2 (February-April)
1st Consolidation phase (70 days marking the bottom) that is ended with an inverse head & shoulders (~77 Days)
Cycle 3 (May-July)
2nd leg up
Cycle 4 (July-?)
2nd consolidation (~70 days so far) and looks to be setting up an inverse head & shoulders similar to cycle 2
Cycle 5
I am anticipating cycle 4 to end shortly and cycle 5 to be TSLA's 3rd leg up targeting the upper trendline of the rising channel
Cycle 1 (January-February)
1st leg up
Cycle 2 (February-April)
1st Consolidation phase (70 days marking the bottom) that is ended with an inverse head & shoulders (~77 Days)
Cycle 3 (May-July)
2nd leg up
Cycle 4 (July-?)
2nd consolidation (~70 days so far) and looks to be setting up an inverse head & shoulders similar to cycle 2
Cycle 5
I am anticipating cycle 4 to end shortly and cycle 5 to be TSLA's 3rd leg up targeting the upper trendline of the rising channel
Note
^ Anchored VWAP (purple) from the bottom of cycle 2
Note
Sitting at huge area of confluence - At the lower trendline
- .618 Fib retracement
- Anchored VWAP
- Big support zone
Note
Beautiful break outside the consolidation phase and now looks to be on the run for the next leg upNote
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Related publications
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.