Upon analyzing TSLA (Tesla), we can see that it has been in a sustained downward trend. Notably, price has entered a critical support zone, exhibiting a double bottom pattern on the chart. Additionally, there has been a downward move beneath this double bottom, tapping into liquidity.
Given the significance of this support zone, I anticipate a reaction, potentially leading to a substantial retracement. Another noteworthy aspect is the imbalance above the current price range, which could serve as a target. Furthermore, I acknowledge the influence of seasonality in stock markets, a topic I delve into within the accompanying video. In the video, we explore trends, price action, market structure, and other essential elements of technical analysis.
As we are near our 52W low and the 150$ mark I presume a reversal is close 📈
tradingwithanthony
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@WidTrade, The double bottom and dip below is typical of a reversal. The imbalance above the range high is a potential target. Im looking for a short if it reaches the imbalance. If this fails to play out I wont be geting involved in a trade.