Confluences: Clear as day WYCKOFF accumulation schematic. I'd enter off the future spring around 520, taking Tesla all the way up to the ATH's/ This is not a swing trade, it's a position trade. Hence I'll be holding it for 2-4 years. Low risk-High reward.
Hey nice effort but IMHO we are looking at a Distribution TR in TSLA. If correct, then I predict TSLA will complete a phase D before it starts to head south. The time frame is unpredictable not withstanding bad news which tanks the DOW and other Indices. IMHO, the buying climax (BC) occured at the high, followed by an automatic reaaction (AR) which you label as a selling climax (SC). Holders of TSLA should look to sell into any rally which occurs from here. IMHO.
Fed02
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@skoutas, Thanks for sharing your analysis, for me (as I see it), the distribution was at the 780-900 range (from the 8th of Jan to the 10th of February) and as of now we are in the next Wyckoff price cycle now (accumulation). But I guess all we have to do now is wait and see how out analysis play outs!
Also is your Wyckoff schematic off the weekly timeframe?
dscrockett
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@Fed02, hello, an interesting study to say the least. Look for a drop of another 170 points that may confirm your hypothesis. However, it looks like we are looking at a new reaction up at the moment. But, as you known, this can change in a heart beat. My charts on which I base my hypothesis are on the daily and weekly timeframe. Thanks for posting and penning a reply. Best.
LuisStefanelli
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Maybe goes to 420 as you say but when fed increases interest rates
Fed02
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@LuisStefanelli, It's a possibility. As of right now I am holding and adding if a spring is formed. If Tesla reaches 420 I'll be happily buy some more
UnknownUnicorn15881386
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wyckoff people posting about it when they have no clue how it works amazing
Fed02
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@Joelsaccount, hahahaha please tell me how I have no clue about it.
Love how you're commenting without actually contributing anything..
good job sir!
Fed02
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ahhh I see, you're short BTC. hahahaha well good luck to you! Now I can finally understand your comment