ARESABI

[WSB] The Technicals Behind TSLA (Trading Plan) #2

Long
NASDAQ:TSLA   TESLA INC
Hello friends,
the performance of the Tesla stock (TSLAUSD) amazes me day by day. The fundamentals align with a very bullish and kinda healthy
looking chart (combared to bitcoin ). We can see that the price is moving above the Moving Average 50 & 200 (blue area) for a
few months now.
We've managed to make some nice gains by taking a long position at the breakout of the symmetrical triangle (purple) and riding
it all the way to our final target at $650.
While i thought the run was over (like many times before), the price continued it's strong movement by moving along
a parabolic curve, towards our main target at $1.000.

Everything we see is basically uncharted territory. We don't have any resistance or zones of confluences above us (basically no data to rely on)
so we will have to look out for psycological important marks, like back when the price hit the $500 mark and retraced to $320 in a few days.
That's where to accumulation started.
We can use the Fibonacci Retracement levels to verify possible entries as soon as the price retraces (probably for the next leg-up).

This kind of retracement can have different shapes. You can see a Falling Wedge above, which is followed by a strong breakout and a continuation of the trend. This pattern is SPECULATIVE and just an example of how things can play out. We still have to observe the strength of the move.

Let me know about your thoughts on TSLA and feel free to like this idea if you agree with this idea.

i love you Elon!
cheers,
Ares
Comment: Trading Plan #1

Comment: Thanks for the feedback guys! I will update this chart every once in a while.
Let me know in the comments if you want to see other analysis as well
Comment: I will update my idea for GameStop (GME) tomorrow, for those who are interested - the actual short squeeze is happening

Comment: And here is an update for the GME Stock

Comments

wenxuan2720 Priceaction776
@Priceaction776, that's a very interesting pattern
+1 Reply
ARESABI Priceaction776
@Priceaction776, nice! describes the scenario i mentioned very well
Reply
uffniels Priceaction776
@Priceaction776, sometimes a picture is better than 1000 words.
Reply
Fuck your Tesla bro. Bitcoin will end up at 100k.
+7 Reply
ARESABI AssetInflation
@AssetInflation, most likely bro!
+3 Reply
Alucard7 ARESABI
@ARESABI, As someone that is bullish on both Long Term, I loved your analysis and response above bro 😂
+2 Reply
Worth_The_Ri5k AssetInflation
@AssetInflation, Both will do great
+1 Reply
pechi123 AssetInflation
@AssetInflation, Sound like a Capital trespasser.
Reply
Detailed explanation thank you
+4 Reply
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