Immediate BEARISH IDEA : Distribution Pattern Look for drop then *UT to 198-200 area then failure with bearish divergence confirmation on RSI & MACD Close below 178 cancels inverse H&S pattern to fill gap at 170 (we may find support at 173 for false rally and rejection at 178
Bullish then Fail set-up - Push up to 208-213 to grab liquidity then major rejection to complete 5th wave down with Bullish Weekly Divergence.
Resistance: 201 210 222 My Targets: tP1 $160 - tp2 $130 tp3 $120 Begin Accumulating
Just Ideas, Let me know if you have different idea or Bullish setup to share.
Comment
⋅
so far - pattern is playing out - I can see a move to try and test 196-198 - *possible *UT up to 200-203 with rejection wick to complete failed bullish pattern.
I'm currently LONG - I shorted to 191 today and bought @ 192 - I will hold position until confirmation of failed breakout - but I will hold if the rest of the market plans to maintain bullish momentum - ..but I do not plan on TSLA going into a new Bullish cycle until we confirm the bottom or fill gap. Good Luck All