Market Observations: #TSLA has experienced downward pressure as evidenced by the distinct pattern of lower highs/lows on the daily chart, signaling a clear downtrend. A significant price gap exists above the current trading range. This setup suggests a potential stop run above the range to clear liquidity, providing an opportunity for larger institutions to fill short orders.
Trade Strategy: Target a short entry on a potential stop run above the range. Aim for an initial profit target at the previous daily low, with a secondary target at the 165 level, which aligns with a prior daily low. Manage risk with a strategically placed stop-loss order.
Disclaimer: This analysis reflects my personal opinion and does not constitute financial advice. Always conduct your own comprehensive research and risk assessment before executing any trades.
looking good Anthony! Great analysis, I love the mention of liquidity, it's something to always keep in mind when MM's are filling orders. I'm almost afraid to enter stops, they will scoop up everything on their way to the ultimate destination of feeding the big dogs.