SHORT ON TESLA

1 thg 10, 2019

Looking at the price on Tesla. It is rebounding at the minor resistance level of price $243 with a 60m time frame and there is a rsi bearish divergence and price at the same time is making an equal test(double top formation).Also there is a major resistance level at price $247 indicated by the strong horizontal line which tasted two times. Dropping the lower time frame and going to the higher time frame Tesla is in a strong downtrend at the 4hrs chat hence we are not going against the trend. There is confluence here the Trendline,resistance level,rsi and a rejection in candle formation. our target should be a risk/reward ratio of 5.62 which seems profitable.