Tesla a Big Question MarK !!
Updated
Hello Traders i am sharing Another publiction on Tesla today and want to share some key points which i observed today, for my trading ideas.
So if you noticed that after making a swing to of 300 levels price came down to 210 levels and after made two swing tops 280 levels followed by 265 levels which indicates that price is trending with lower highs from the top likewise it made a swing low of 235 levels after second swing high but on yesterday's session it breached that swing low levels of 235 and reached near to first swing low levels which it made after first swing high of 300 levels mentioned above, so i expecting a bounce (near to 210-215 levels) from here (as it did earlier) for the target marked above on chart although i won't mind to take a contra (short) if price break demand zone and sustaing below for the support targets marked below from demand zone.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
So if you noticed that after making a swing to of 300 levels price came down to 210 levels and after made two swing tops 280 levels followed by 265 levels which indicates that price is trending with lower highs from the top likewise it made a swing low of 235 levels after second swing high but on yesterday's session it breached that swing low levels of 235 and reached near to first swing low levels which it made after first swing high of 300 levels mentioned above, so i expecting a bounce (near to 210-215 levels) from here (as it did earlier) for the target marked above on chart although i won't mind to take a contra (short) if price break demand zone and sustaing below for the support targets marked below from demand zone.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Note
Still trading in flip zone friends, Overall market sentiment also not supportive for a bounce below 212 a day close trend will turn weak from the lower side because it will be second consecutive close below mentioned swing lows in descriptionNote
Today it is a big withdrawal from flip zone friends, If close below we can see below marked targets in coming sessions Note
After breaking demand zone (support area) price tried to break and go up from demand zone but after this breakout that zone acted as resistance, and in yesterday's session reached very near to support based target one if support based target one will break and price will sustain below we can see target two soon friendsNote
Price break yesterday's low and went very close to support based target one and bounced from there as that target is also a strong support zone so now added a resistance for taking a support bounce trade if break and close can go for a long side trade in it, Short trade closed, Next short oppotunity can come if close below support based target one as mentioned in update above.Smaller timeframe snapshot for a better view of support bounce
Note
Price reached to mentioned resistance for support bounce after support bounce and exactly rejected from there for continuation of up move after getting a bounce from support based target one, i assume that these type of resistance for retracement it is tough to break in first attempt but i belive that it will break that resistance in one two session after a firm bounce from support areaNote
Yetreday closed above resistance for support bounce trade and now long side trade performing very well, so now from here stop loss will move to cost (yetreday's closing price 205.66) and will sit for the targets for bounce marked on chart friendsNote
Target Update-:Target one of 234 complete from 205 levels which i updated as resistance for bounce, now from here if price will break this resistance based target one and close above we can see resistance target two very soon mates, Nice gains so far once complete short target too by this idea Cheers!!
Thanks for reading friends next i will update only upon completion of target two until then stop loss i will trail on entry price for this trade and will sit for the target two also
Note
Hi friends as i told in update above many day ago that i will update this idea only after the completion of target two but here i find something important and intresting to share so sharing that after completing resistance target one price respected that resistance target as support and now after breaking a closing resistance mentioned in this update from where price regularly getting rejection so in yesterday's session finally it broken out that consolidation and give a close above so we can see the fresh buildup of momentum towards final and seconf resistance target marked in idea description friendsTrade closed: target reached
Target Update-:Target two also complte mates, And price taking resistance from resistance target i assume if price will break this target resistance that will a good opportunity for going fresh long in Tesla if this will happen and i will go for a fresh long trade in that case i will publish a new idea now cloing this idea completely and taking my gains. Thanks for reading and supporting idea, Cheers mates !!
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