Lucassornicle

Bullish triangle on the 1H timeframe

Long
NASDAQ:TSLA   TESLA INC
We have a big chance of seeing upward movement.

Triangles are often following previous movements, here it´s upward, therefore the odds are in favor for it to continue upwards.
For the ones interested in Elliott WT then I beleive we're in the 4th wave in a small 30min to 1H timeframe.
Volume should soon grow which would make strong movement.

If the break is over the triangle, then the signal is strong BUY with first goal level between 913 and 934. It could get much higher but we´ve to wait for it to break this level to be sure.
If the break is under the triangle, then you shall wait because last triangle waves (E) are often false breakouts. If it gets lower than A 804 then it´s a sell signal.

Good luck with your trading, hope you liked it and please leave a like! :)
Comment: Volume is beginning to increase and breakout above triangle => HUGE chance for price to rise!

Comments

good call on this! got in this morning using this. Thanks!!
+1 Reply
avg2019 avg2019
@Lucassornicle perhaps the triangle is longer
Reply
@avg2019, It's often normal to break, bounce and then fly :)
+1 Reply
volume is decreasing.....not bullish
+1 Reply
@JAGTTMAL, volume has decreased yes like it did from DEC 18 to DEC 29. That´s what happens during correction waves. Right now we know it will increase soon, more and more during the breakout.

It´s simple logic, some people have stop losses, other have buying/selling orders outside the triangle. This will trigger fast price movement and growing volume.
+1 Reply
harsh07 JAGTTMAL
I think it's going down the next 2 days. didn't you see the news about tesla being forced to recall 160k cars after hours.
+2 Reply
@harsh07, Maybe, let´s see what happens :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out