TESLA $TSLA - April 8th, 2024TESLA NASDAQ:TSLA - April 8th, 2024
BUY/LONG ZONE (GREEN): $181.00 - $208.50
DO NOT TRADE/DNT ZONE (WHITE): $162.00 - $181.00
SELL/SHORT ZONE (RED): $135.00 - $162.00
Weekly: Bearish
Daily: DNT - Lean Bearish
4H: DNT
NASDAQ:TSLA has been trading through a clean range for about a month now. There was strong bearish momentum that ran through my DNT zone and into my bearish zone before creating the range. There have been four tests to the bottom level of the zone @ 166.00/162.00 and three tests to the top level of the zone @ 177.50/181.00, currently approaching a potential fourth test of the top of the zone.
For early entries for bulls and bears all of the zones can be adjusted as follows (shortening DNT zone, extending bearish and bullish zones):
Bullish: $177.50 - $208.50
DNT: $166.00 - $177.50
Bearish: $135.00 - $166.00
The weekly timeframe has strong bearish structure, the daily timeframe has the range shown but still holds bearish structure, and the 4H timeframe most recently has developed bearish structure but has created the range so I have labeled it as DNT as there is no clear direction that price is following.
There have been slight level adjustments compared to my previous post that better fit the current structure price has created. I have drawn arrows on the range for easier distinction for what I am looking at, combined with potential breakout arrows and potential breakdown arrows. Both the bulls and the bears have roughly a 15% +/- price change as the targets I have shown.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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