zuralski

BULLISH CRAB pattern on TESLA (Down then Up)

NASDAQ:TSLA   TESLA INC
212 2 3
BULLISH CRAB ( harmonic pattern ) is forming on a daily chart of Tesla             ( TSLA             ).
So what's in store for the carmaker?
Looks like the trend is down a few dollars ($15-17 dollars), looking to a potential Reversal Zone around $217.65.
Then, watch the price action for bullish candles and then go long aiming to reach the $272 area, which is a target completion area for this ABCD pattern .

Good luck!
stib
3 years ago
looks like today after touching 210, it reversed. let's see if it holds 217 level tomorrow.
Reply
trader888
3 years ago
Hello,

This is a retracement pattern as the crab harmonic pattern goes beyond the X point to an extention pattern: http://www.fxgroundworks.com/crab-pattern/

Your XA ratio is missed so this pattern is not a harmonic pattern since the fib ratios didn't line up.
Reply
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