On July 29th I suggested that Tesla would drop into into my fakeout zone, followed by the usual "stop hunt-rise" and retrace (to test the breakout).
Once I saw 2 fake breakouts of trend, I expected this breakout to occur (after the fakeout). Once the breakout occurs, we always see the retest. The only question that remains is Tesla going to continue to follow the path outlined on my chart?
If Tesla does what it almost always does during this pattern, the answer is yes. There may be a quick liquidity grab below the breakout low, before continuing up towards my Bullish T1 target.
But keeping in mind, that Tesla is at an inflection point, I'm prepared for the possibility of a bearish scenario. Anticpating price action helps me quickly invalidate my trade ideas, so I can pivot accordingly. Therefore if Tesla holds resistance below $300, I expect a test of my bearish T2 target.
For now I remain cautiosly bullish until proven otherwise.
May the trends be with you.
Once I saw 2 fake breakouts of trend, I expected this breakout to occur (after the fakeout). Once the breakout occurs, we always see the retest. The only question that remains is Tesla going to continue to follow the path outlined on my chart?
If Tesla does what it almost always does during this pattern, the answer is yes. There may be a quick liquidity grab below the breakout low, before continuing up towards my Bullish T1 target.
But keeping in mind, that Tesla is at an inflection point, I'm prepared for the possibility of a bearish scenario. Anticpating price action helps me quickly invalidate my trade ideas, so I can pivot accordingly. Therefore if Tesla holds resistance below $300, I expect a test of my bearish T2 target.
For now I remain cautiosly bullish until proven otherwise.
May the trends be with you.
May the trends be with you.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
May the trends be with you.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.