TSLA | Indication for the further bearish rally but anticipation
#Week10-11-Strategy-1&2
BEARISH INDICATOR (DEC 28)
(Before Market Opened)
1. Bearish LHs and LLs
2. Market closed with multiple bearish candles
3. Significant resistance was tested multiple times but was not broken between 200 and 208.
4. Trending upper channel has not been broken and new LH and LLs are formed.
5. No harmonic or other pattern spotted
6. No divergence was spotted which signals that the downtrend may further continue
BULLISH INDICATOR (DEC 28)
(Before Market Opened)
1. Price has reached a level of support region between 90 and 108 which was noticed last time in Sep 2020
2. Price possibly could reverse at this point but no reversal pattern yet been spotted.
PREDICTIONS
1. There are strong signals for a further downtrend.
2. But the stock has gone through a long bearish rally so need to be ready to act on a bullish reversal.
BIAS 1 = SHORT - PLAN 1 (@ Market price)
BIAS 2 = PENDING LONG - PLAN 2, (if PLAN-A SL1 hits then anticipate buying after re-checking the bearish indications)
TRADE PLAN
—————————
PLAN A: SHORT at 108.6
EN: 108.6 (Pending Sell Stop Order)
SL1: 130.47
TP1: 86.63 - RR: 1.1 - Lt: 2
SL2: 136.33
TP2: 67.10 - RR: 1.49 - Lt: 4
PLAN B: LONG. Pending Buy Order
(if trend reversal happens)
EN: ? (@ Market Above the SL1 of Plan A)
SL1: ?
TP1: ? - RR: 1.0 - Lt: 2
SL2: ?
TP2: ? - RR: 1.5 - Lt: 4
(PUT Watchlist)
BEARISH INDICATOR (DEC 28)
(Before Market Opened)
1. Bearish LHs and LLs
2. Market closed with multiple bearish candles
3. Significant resistance was tested multiple times but was not broken between 200 and 208.
4. Trending upper channel has not been broken and new LH and LLs are formed.
5. No harmonic or other pattern spotted
6. No divergence was spotted which signals that the downtrend may further continue
BULLISH INDICATOR (DEC 28)
(Before Market Opened)
1. Price has reached a level of support region between 90 and 108 which was noticed last time in Sep 2020
2. Price possibly could reverse at this point but no reversal pattern yet been spotted.
PREDICTIONS
1. There are strong signals for a further downtrend.
2. But the stock has gone through a long bearish rally so need to be ready to act on a bullish reversal.
BIAS 1 = SHORT - PLAN 1 (@ Market price)
BIAS 2 = PENDING LONG - PLAN 2, (if PLAN-A SL1 hits then anticipate buying after re-checking the bearish indications)
TRADE PLAN
—————————
PLAN A: SHORT at 108.6
EN: 108.6 (Pending Sell Stop Order)
SL1: 130.47
TP1: 86.63 - RR: 1.1 - Lt: 2
SL2: 136.33
TP2: 67.10 - RR: 1.49 - Lt: 4
PLAN B: LONG. Pending Buy Order
(if trend reversal happens)
EN: ? (@ Market Above the SL1 of Plan A)
SL1: ?
TP1: ? - RR: 1.0 - Lt: 2
SL2: ?
TP2: ? - RR: 1.5 - Lt: 4
(PUT Watchlist)