Wanted to make an example for a friend on how one might trade off pattern confirmation. Im not long or short on this asset. Targets for both long and short found through fib techniques.
This triangles breaking soon. which way is the question. we all know it should be down, but the world doesnt make sense anymore. So who knows.
Drew this one up right before market opened and gave us a big ol red dildo below our neckline. Let's see if we stay below that neckline....
Doesnt matter for me, I'm never selling till $25+ But this is too perfect of a setup after so much bullishness, It's suspicious....
Who said you cant make money longing in a bear market?
Buy/sell when in the green/red zone. That's the plan.
Will other electric car companies pump anything like tesla did? Doubtful, but I do see good potential for the upside both in terms of technicals and fundamentals
Looking like we are around a lot of support, hopping the bulls can capitalize in the next couple days. But I could still see a drop into the mid 7000s to retouch our main long term trend line.
Barring any bearish news or a larger market crash, we should be looking good for a breakout soon.
Looks similar in regards to our support/resistance indicator.