A short iteration update here after the wild moves cleared the board and left a lot of confusion behind. The beauty of abstracting to trading, or elasticity trading or trend following is that you take all of the noise in the inner waves out, and just trade time and probabilities.
Well done all those who are already short from above and managed to book some profits on the test of 46,000. For those looking to add back to positions or jump in then all we need to do is trade in our window and capture the overlap. A daily closing below our $55/54,000 is contentious and shows buyers are exhausting. A pullback towards the 42,000 Tesla breakout looks in imminent, before we can ultimately gather enough energy for another slingshot.
Thanks as usual for keeping the feedback coming 👍 or 👎