On Tesla there is a nice triangle pattern . It can break upside or downside.
- Upside ? Long above the previous resistance
- Downside ? OK for a short, but I'm not sure it can go straight down. May be a bounce on a pivot, retest of the trend, and wait short confirmation with a red candle touching the trend
It's only speculation, in reply for all bulls charts/ photoshop bulls charts: may be we are heading to 2 700 $ in 2020, the real bottom.
WE DON'T know what's next in reality. Just see day after day, weeks after weeks what the chart tell.
Is there something nice to do today ?
Alt did a big bounce on the support, it won't last, but there is a nice bullish momentum. It needs a nice resistance to push that down again. So... I want to be long today !
I wait a dip (may be no dip ! ) , and I'll reload. Sell at the target.
I wanted to write this idea as a personal road map for the coming months. We entered in a correction phase after a parabolic move.
a kind of "bubble pop"
There will be big moves, high volatility. Very good for day trading.
On the left 2018
on the right, now
2018: I' found this double top pattern. We see a nice oversold on 4h chart. S/R levels are reliable
2019 The first spike was a fomo spike, as we see often on low TF. 4h oversold start. S/R levels are reliable too.
Don't get trapped ! The 9.8k support can break. Not in 4h. but it can break. Trade safe.
And see how the chart develop.
1D: what a drop !!!
It's sitting on a nice support. But there is under another nice support under 10 900
2h: nice double top pattern
Only red vol candle. Just one weak green candle. It's not enough. I wait a nice green candle to think "reversal".
Plan of the day: think bear. And let's hunt patterns again.
10 900 would be the ultimate target for now. There is...
Nice wake up today, +7% profit on binance ! It's going up faster than expected.
D: 5 green vol candle in a row. Very bullish !! 3 candle increase. today candle in process
13 300 - 13800: there will be some resistance here may be, but nothing special. I don't expect yet a fast grow here. Probably a slow up. Once above, it's blue sky, it will push faster....
Risisng wedge, bearish pattern
How to trade that: wait the confirmation of the breakdown. It's less aggressive but safer.
Target ? It's written on the chart how to have an idea.
On that case, there was a rounded top
In this kind of uptrend, there is 4-5 stages
Each one goes faster and faster. (-4h in this case)
At each stage, volatility decrease. than spike
At the top: (stage 4-5): volatility is pinned to the top. Vol candle are really bigger than before
Then correction: ABC
A new day start !
D: bullish ! no exhaustion of the green candle yet. Momentum full bullish.
1h: I had to change my lines, to adapt to reality. It's bullflag after bullflag. Ultimate target is 13 345. Volatility is stable. Price action is just growing
5mn: There is a bullflag touching a resistance 12 800. Next resistance is at 13 300
Plan: wait for a breakout...
As I said yesterday, I was ready to buy the breakout. It's done, Nice volume candle, 4% move instantly. I took 75% of my profit. I placed a SL at 11.8k. And... wait. We never know what's happening next.
TA of the day: it's touching the 12k resistance. The big trend wall is near 12.5k. Stoch momentum is turning more bullish
I can expect a bull flag at 12k, then...
D: we are making a big triangle pattern. Momentum is fading. Big green candle rejected from the upside.
2h: volatility is fading. More red vol candle than green vol candle. There is many wicks downside
30mn: under the EMA 100, it's temporary bearish momentum.
No volatility. Possible profit before touching big support/resistance 1-1.5%...