October is Tesla’s most important month:
Q3 vehicle production & deliveries on 1 OCT
Annual Shareholder meeting on 7 OCT
Q3 earnings call on 20-21 OCT
We can observe again and again that price declines if such events occur at the end of a rally, which is the case here. The actual earnings or production stats, no matter how positive, seem to be irrelevant if market participants are set to sell the news.
As mentioned in my last analysis, Tesla is approaching Gann level 805, and 8 is an important profit-taking Fib number. The current Elliott wave has come (or is coming) to an end in the 5th wave (green count) and we reduced long exposure.
Mars square natal Mercury coincided with the top. Sun squares natal Sun on 30 SEP, potentially further bearish volatility.
The assumption is that a wave C (yellow count) is completing. That means there is enough downside to gradually build short exposure as we gain more confidence that this is the right direction.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
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start.tastyworks.com/
Deribit
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www.deribit.com/reg-14912.6680
Binance
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accounts.binanc....me/en/register?ref=LLBB97...
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Q3 vehicle production & deliveries on 1 OCT
Annual Shareholder meeting on 7 OCT
Q3 earnings call on 20-21 OCT
We can observe again and again that price declines if such events occur at the end of a rally, which is the case here. The actual earnings or production stats, no matter how positive, seem to be irrelevant if market participants are set to sell the news.
As mentioned in my last analysis, Tesla is approaching Gann level 805, and 8 is an important profit-taking Fib number. The current Elliott wave has come (or is coming) to an end in the 5th wave (green count) and we reduced long exposure.
Mars square natal Mercury coincided with the top. Sun squares natal Sun on 30 SEP, potentially further bearish volatility.
The assumption is that a wave C (yellow count) is completing. That means there is enough downside to gradually build short exposure as we gain more confidence that this is the right direction.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Futures and Crypto broker
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
www.deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.