Hi Everyone,
I am back with a bearish outlook on $TSLA.
Looking at large timeframes, we are possibly hitting exhaustion points
Since higher timeframes are pretty significant we should favor a bearish scenario for the incoming week(s).
For now, no bearish targets, it is too early but trading ideas should show up next week.
Take into account that the S21 exhaustion point is based on HL termination settings.
By changing this setting to open termination, the count is still on a bar 19.
However, I favor HL termination for now with 2 converging elements:
Cheers,
MATHR3E
I am back with a bearish outlook on $TSLA.
Looking at large timeframes, we are possibly hitting exhaustion points
- Monthly C21
- Weekly S21
Since higher timeframes are pretty significant we should favor a bearish scenario for the incoming week(s).
For now, no bearish targets, it is too early but trading ideas should show up next week.
Take into account that the S21 exhaustion point is based on HL termination settings.
By changing this setting to open termination, the count is still on a bar 19.
However, I favor HL termination for now with 2 converging elements:
- This weekly close could end as a Doji.
- Daily Supply Line (orange Line) target is reached (check the previous idea for more details)
Cheers,
MATHR3E
