Trading decision is broken down to elements and evidence:
1) Trend line - will break soon
2) Previous trends happen after trendline break
3) Trend line is breaking soon
4) Stoch - Turning soon
5) FIB of previous wave- 50% of previous wave
6) Forming multiple pin bars
This means it is ready to be entered
Moving to lower time frame to set up ...
Reasons for change in trend
1. Price has reached a low point of 81.5 which is 2x fib level
2. Down Big Gann Fan - Price went from 91 to 81 since April 30 (Price has travelled two zones from Light blue to White)
3. Down Small Gann Fan - Price went down from May 28 to the upper line of white area in July
4. Price is consolidating around 81 dollar
There should be ...
As the downtrend of tesla is completely coming to an end,
It is encountering some resistance because of it is reaching its all time high
Price is turning into consolidation.
From the upward Gann fan, you will notice. the price has recently went from high speed & momentum (green area) to white area to now the blue area - This signal a potential trend change. ...
Indicators to look for:
1. Narrow Range
2. Bounce back from previous top band (down trend)
3. Just a few hours ago, a spike up and the price was close to high band (the BB20 is also in narrow range which indicate break out is coming