The markets are starting strong this year except for one late bloomer: TESLA! But I thinks it is time for Musk's prodigy to go fourth to new heights. Here's my perspective on things:
What is on the chart?
1) An attractive liquidity level that will be our swing target of $315 (oh no spoiler alert).
2) We have not only a bullish gap but also a bullish weekly FVG that accompanied the break of structure (high taken out that shifted the market structure from bearish to bullish).
3) Huge accumulation structure which clearly to me is bullish but who knows maybe a Cybertruck will drive into a playground (jk).
4) This is the biggest driver (vroom vroom) of this analysis. A huge weekly wick in a weekly bullish GAP. What else do you want?
5) Our last chance to enter. If we're bullish, this is where you want to enter. Price is giving you a gift. Take it.
6) This would mark the continuation of the bullish price action. A higher high is often under looked and can provide enough info for a strong reliable bias.
7) This is our primary target. Nothing else to say here.
As always, happy trading and enjoy your weekend!! ;)
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IMPORTANT: EARNINGS TODAY!
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This might be counter intuitive to be bullish when the earnings are bad but Tesla is a good company and is still dominating the EV market. Bad earnings that discount price is a good thing. I do not post ideas I do not personally support. Yes the technicals were bullish and I stood by it but the fundamentals are vital. I failed to put an accent on the fundamentals in case of a bad scenario. But again, bad is good. The more Tesla gets devalued, the better price you're getting for a long term position. It's important to stay positive. You're better off owning something during a correction than not having entered when it skyrockets (I'm sure some of you are missing out on Nvidia). Stay positive, manage your risk and everything will be fine.
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Based on the monthly and weekly Ichimoku, you couldn't be more bearish and I'm embarrassed at this point to have even proposed a long idea.
@Allure016, I'm not in denial that bad earnings could kill the current price action. Employing the use of a straddle wouldn't be so bad to cover some risk and maybe benefit from the volatility.
mulaudzimpho
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@Allure016 lol you are overthinking things you there is no sells that is going to 50 the company already lost 80 billions of dollars you think it's funny n they gonna just let it down lols
Lexi_Is_Trading
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@mulaudzimpho, well fundamentally it's overvalued. But the price is looking more and more attractive.
Yelli_trades
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Hi Lexi, I was bearish from latest developments thanks for your work