TSLA | Tesla | General atmosphere in the markets?
Updated
Looking to short Tesla if price should push against the red area (Sell area 1).
Reason beeing its a former, engulfed supply zone that stopped the previous uptrend before beeing taken out. It also served as Support for a short period of time.
In general if this trade should work out i see other major stocks going down.
S-L (Stop- Loss): I dont want to see a close of a weekly candle above the green line.
Target: A former resistance area that is in confluence with the 50% of the range of the recent uptrend.
Additional: The last uptrend swing of Tesla (See blue Fib levels) followed a correction to the 23% Fib before starting with the current uptrend. The 23% Fib of the current uptrend is marked with a green rectangle.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
Reason beeing its a former, engulfed supply zone that stopped the previous uptrend before beeing taken out. It also served as Support for a short period of time.
In general if this trade should work out i see other major stocks going down.
S-L (Stop- Loss): I dont want to see a close of a weekly candle above the green line.
Target: A former resistance area that is in confluence with the 50% of the range of the recent uptrend.
Additional: The last uptrend swing of Tesla (See blue Fib levels) followed a correction to the 23% Fib before starting with the current uptrend. The 23% Fib of the current uptrend is marked with a green rectangle.
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
Trade active
Note
Trade closed: target reached
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.