BUY/LONG ZONE (GREEN): $195.75 - $260.50 (BUY ZONE ADJUSTABLE DOWN TO 208.50) DO NOT TRADE/DNT ZONE (WHITE): $177.25 - $195.75 (DNT ZONE ADJUSTABLE UP TO $208.50) SELL/SHORT ZONE (RED): $113.00 - $177.25
Tesla broke out of its range lasting from Jan. 25th - Feb 15th. Breakout price was at 195.75, the Feb 15th daily candle broke and closed above this price level. This can mark a bullish trend, however; a safer bullish zone can be extended to start at 208.50, with the DNT zone also extending to end at 208.50. I personally like the early entries after a strong bullish candle yesterday with over a +6% move. Some other high frame bullish entries could be a retest of the top of the range, or a breakout of the 208.50 area. Some high frame bearish entries could be a test and rejection of the 208.50 area, or a break back into the range area. Long term targets would be the 230 - 260 area, would need another look once price moves closer. I quickly marked every recent structure 1 - 6 that I considered when looking to enter a new position to show somewhat where my mind was at. As price moves to new levels and zones and develops new structure I will update this.
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!
Nota
Price is stuck in a range hanging in part of the bearish zone.
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