Welcome to this analysis where we are looking at TSLA 4-hour timeframe perspective, the recent events, the current formational structure and what we can expect the next times, since TSLA has managed to bounce from its important trendline to the upside this gave an initial shape and now there can follow further when it manages to stabilize above the trendline, in this case, I detected the important levels and possible outcomes to consider, when TSLA shows up with the right price-action this can result into a great trade with increased .
Looking at my chart you can see this big triangle forming by the blue uptrend line and by the horizontal light blue line which previously formed the highs, when TSLA manages to consolidate in this range and form the triangle properly out this can result into a breakout to the upside overall providing the right setup for further continuations, currently, on the reverse perspective when TSLA does not hold the lower boundary this will cause pressure further to the downside, however, this is at the moment, not the highest possible outcome.
When the stock shows up with the more likely breakout on the middle term the breakout and ongoing confirmation can be traded either aggressively or conservative, the aggressive approach would suggest immediate entry and the conservative one entry after confirmation above the upper resistance, although the immediate entry is also possible here the conservative one should be preferred, traders can decide according to individual preferences, targets can be measured higher in the structure.
In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
"If you have the conditions you get the results.”
Information provided is only educational and should not be used to take action in the markets.