Hi guys,
In this walk though I show you how I got my $110.00 target.
tools I use:
Lets start at the peek of the chart in November of '22 this is were I began my analysis, I used the 20H chart as I find this works well with my setup and I personally like this chart because it cuts off the 1st and 2nd busiest trading hours.
From there I used the peek high to the subsequent lower high to base my chart setup around. From then on its just a matter of seeing the mood of the market spotting key levels to work with and following ones gut.
The EMA and MA's are good momentum indicators giving the chart reader a good sense of the direction price wants to move.
With the hype around tesla above $350 that is where I put my greedy face, with price not managing to brake back through around $375/$400 price fell bellow the medium momentum MA telling me price is now wanting to look for lower long term targets.
This is where I would look to the red zone and my $110 target.
If price had broke back above the green equilibrium price may of stood a chance of pushing higher before eventually falling back to the lower targets level areas.
With price having fallen blow the 200 MA holders begin to question their holdings, this is were I placed my yellow face as the mood of holders change, with price rallying back above the 200 MA a few months later I would question the price action.
around a week later we see that price falls below the short term MA indicating a possible reversal is in play and as key levels start to show price eventually fell braking back below the 200 MA giving me my warning sign.
With price finding support in what I call no-mans land we see a rally back to the 200 MA and into a orange wall, price was trading bellow this level for some time and then we got a stock split to try pushing the price to brake the key level falling to do so.
When price fell below the medium term MA & the long term MA I placed my 2nd warning sign, at this time price just picked up momentum to the downside to what we see today.
I personally think that the sad holders indicated as a sad red face will be selling their bags in the near future pushing price lower.
With price having bounced of my $110 level we should see a rally how high its hart to say. If price can regain the short term EMA then we could see price heading to the 200 MA or a quick pump to around $210 before dropping back down potentially braking the red zone.
As always, Invest smart and with small amounts. Key is to preserve ones capital.
This is NOT financial advice, please DYOR.
Stay safe,
Crypto Leonard
In this walk though I show you how I got my $110.00 target.
tools I use:
- time based fib extension
- fib retracements
- rectangles colour coded
- question marks, exclamation marks, faces & arrows
- EMA, MA's
Lets start at the peek of the chart in November of '22 this is were I began my analysis, I used the 20H chart as I find this works well with my setup and I personally like this chart because it cuts off the 1st and 2nd busiest trading hours.
From there I used the peek high to the subsequent lower high to base my chart setup around. From then on its just a matter of seeing the mood of the market spotting key levels to work with and following ones gut.
The EMA and MA's are good momentum indicators giving the chart reader a good sense of the direction price wants to move.
With the hype around tesla above $350 that is where I put my greedy face, with price not managing to brake back through around $375/$400 price fell bellow the medium momentum MA telling me price is now wanting to look for lower long term targets.
This is where I would look to the red zone and my $110 target.
If price had broke back above the green equilibrium price may of stood a chance of pushing higher before eventually falling back to the lower targets level areas.
With price having fallen blow the 200 MA holders begin to question their holdings, this is were I placed my yellow face as the mood of holders change, with price rallying back above the 200 MA a few months later I would question the price action.
around a week later we see that price falls below the short term MA indicating a possible reversal is in play and as key levels start to show price eventually fell braking back below the 200 MA giving me my warning sign.
With price finding support in what I call no-mans land we see a rally back to the 200 MA and into a orange wall, price was trading bellow this level for some time and then we got a stock split to try pushing the price to brake the key level falling to do so.
When price fell below the medium term MA & the long term MA I placed my 2nd warning sign, at this time price just picked up momentum to the downside to what we see today.
I personally think that the sad holders indicated as a sad red face will be selling their bags in the near future pushing price lower.
With price having bounced of my $110 level we should see a rally how high its hart to say. If price can regain the short term EMA then we could see price heading to the 200 MA or a quick pump to around $210 before dropping back down potentially braking the red zone.
As always, Invest smart and with small amounts. Key is to preserve ones capital.
This is NOT financial advice, please DYOR.
Stay safe,
Crypto Leonard
