Hello everyone this is my TESLA idea on 4 hour time frame ..
Few things to point out .. before we start our analysis
Price is overbought on daily - weekly - monthly which it doesn't necessary mean anything but price is due for a sell off or profit booking ..
Now price is trading between black and red line .. so I will talk about our entry approach and stop loss ..
For bulls .. ( buying thesis ) You wanna buy from black line to target red line as long as black line hold mean ( no 4 hour candle close below black line ) You wanna buy from green line to target black line as long as green line hold mean ( no 4 hour candle close below )
For Bears .. ( selling thesis ) You wanna sell from red line to target black line as long as red line hold mean ( no 4 hour candle close above ) You wanna sell if price break green line or black line .. 4 hour candle close below to target next support ..
Another good indicator hint .. is the RSI black line held the price ... and new divergence started green line if green line break and black line it could trigger a sell off ..
for any question feel free to ask :) and good luck