TSLA is in Descending triangle and the price is now on the Demand area (560-530) and also the demand area crosses with 200 day EMA. (which makes the area stronger)
As you know, every bounce from demand area damages the area so I am waiting for one more bounce from this price levels to 50 day EMA (pink one).
Then according to the descending triangle, price will drop down to our demand area again but at this time the area may not be much stronger.
If the area breaks down, my first price target is 440-410 demand area.
R/R of the trade: 4.27
Stop loss: 721.32
TP1: 441 (%85)
TP2: 330 (It's a bit hard to reach but worth for trying - %15)
** CAUTION: THIS IS NOT A FINANCIAL ADVICE! **
As you know, every bounce from demand area damages the area so I am waiting for one more bounce from this price levels to 50 day EMA (pink one).
Then according to the descending triangle, price will drop down to our demand area again but at this time the area may not be much stronger.
If the area breaks down, my first price target is 440-410 demand area.
R/R of the trade: 4.27
Stop loss: 721.32
TP1: 441 (%85)
TP2: 330 (It's a bit hard to reach but worth for trying - %15)
** CAUTION: THIS IS NOT A FINANCIAL ADVICE! **
Trade closed: stop reached