Brief on previous idea: After a while i got some free time to update the
TSLA
chart. last time we had 795 key level, it got broken, then a strong pullback to 870, but the first breakout put us on short alert and i personally waited for only sell opportunities. the target was 650-680 and now its the time to update it ...
OK, the first candle entering the zone and below it to 620 had strong rejection from the buyers, but no chance to break the decreasing trend-line, now its retesting the zone, i believe our next candles might test 600 as-well but if we're expecting a reversal we need a strong shadow rejection and not a body support. anyway 600 is strong level, 500 is minor level and 400 is strong level.
we are still on downfall so we keep our sell positions, but watch for the triangle, if you see strong 600 support and strong breakout from trend-line then you can consider going long.
TSLA
chart. last time we had 795 key level, it got broken, then a strong pullback to 870, but the first breakout put us on short alert and i personally waited for only sell opportunities. the target was 650-680 and now its the time to update it ... OK, the first candle entering the zone and below it to 620 had strong rejection from the buyers, but no chance to break the decreasing trend-line, now its retesting the zone, i believe our next candles might test 600 as-well but if we're expecting a reversal we need a strong shadow rejection and not a body support. anyway 600 is strong level, 500 is minor level and 400 is strong level.
we are still on downfall so we keep our sell positions, but watch for the triangle, if you see strong 600 support and strong breakout from trend-line then you can consider going long.
