Topping reversal candle on the 4 hr. I see Bullish and Bearish scenarios- * Yes Tesla can go to $180 first, it has to happen before Wednesday
Bearish- pullback and double top , Rising Wedge or complete breakdown from here.
Bullish-continuation on new support trend-line past $200… to confirm V bottom recovery (Tsla is one of few stocks that will be green while Markets go red)
*** everything dependent on Markets to confirm Bull cycle or to fade the rally and begin the Final leg Down of Correction.
My Thesis,( until price action delivers a different scenario)-
I’m leaning Bearish, but with a possibility of higher high along with Bearish Divergence confirmation. Just to accumulate more retail liquidity before February selloff -Smart Money began buying in December- taking profits in February lines up with lower Tax on gains and portfolio rotation
I believe economic data or FOMC will maintain hawkishness and rug-pull the markets next Wednesday.
Macro Data:
- NYSE advance decline is supporting weakness in markets
-Retail & Smart money are completely divergent
-Put/Call ratio beginning to favor Bears
-Vix bullish divergence setup forming
-DXY, 10yr & 2yr bond yields are all rising with markets
-HYG Bonds are falling while markets advance
-Retail influx & euphoria is at highest level since 2021 & 2022 August high (LARGE SELLOFF)
- Feb & March seasonally are sell-off & Volatility spikes until April
***Everything is pointing to a Large pullback or “The Final” leg of Bearish Correction
Bearish- pullback and double top , Rising Wedge or complete breakdown from here.
Bullish-continuation on new support trend-line past $200… to confirm V bottom recovery (Tsla is one of few stocks that will be green while Markets go red)
*** everything dependent on Markets to confirm Bull cycle or to fade the rally and begin the Final leg Down of Correction.
My Thesis,( until price action delivers a different scenario)-
I’m leaning Bearish, but with a possibility of higher high along with Bearish Divergence confirmation. Just to accumulate more retail liquidity before February selloff -Smart Money began buying in December- taking profits in February lines up with lower Tax on gains and portfolio rotation
I believe economic data or FOMC will maintain hawkishness and rug-pull the markets next Wednesday.
Macro Data:
- NYSE advance decline is supporting weakness in markets
-Retail & Smart money are completely divergent
-Put/Call ratio beginning to favor Bears
-Vix bullish divergence setup forming
-DXY, 10yr & 2yr bond yields are all rising with markets
-HYG Bonds are falling while markets advance
-Retail influx & euphoria is at highest level since 2021 & 2022 August high (LARGE SELLOFF)
- Feb & March seasonally are sell-off & Volatility spikes until April
***Everything is pointing to a Large pullback or “The Final” leg of Bearish Correction
Comment:
Error** I mean: Yes, TSLA can go to 182 , close above $184 will be a strong case for bullish scenario
Trade closed: target reached:
$183 zone accomplished - I am Taking Profits off the table and leaving 1/3 position for gap up rally tomorrow *** Bearish Divergence on Daily & 4 hr
Comment:
for Bulls: *Let's hope TSLA does not close below $180.5 today... this could set-up a "double top pattern*
Comment:
Even with Bearish Divergence we could see tesla rally to $190 (measured Break-out move) or even to $198 before big pullback
Even with Bearish Divergence we could see tesla rally to $190 (measured Break-out move) or even to $198 before big pullback
Comment:
BE CAREFUL HERE.....