As per previous post....
Sign of Bearish Trend
-Magnitude of Downtrend Line B much stronger than Downtrend Line A
-Magnitude of Downtrend Line C similar to Downtrend B
-Momentum of Retracement line R3 much weaker than of Retracement line R2
-Candlestick currently challenging MA200
What retracement R3 are we looking for?
-R1 retrace more than 0.786fib of Line A
-R2 retrace more than 0.786fib of Line B
With R3 weak momentum, seems that candlesticks might fail to even reach 0.786 of line C. A double top already formed at the MA200 line below fib 0.618 as mention in previous post https://www.tradingview.com/chart/TSLA/Po7OsGPM-TESLA-Bearish-Retracement/
Now ranging (290-320) [Boxed] where higher volume of trading are involved, shown in horizontal volume indicator(past 270 days). Holders might take a chance to offload/cut loss. A hurdle to pass through.
Stronger Support at 233-250 level.
Sign of Bearish Trend
-Magnitude of Downtrend Line B much stronger than Downtrend Line A
-Magnitude of Downtrend Line C similar to Downtrend B
-Momentum of Retracement line R3 much weaker than of Retracement line R2
-Candlestick currently challenging MA200
What retracement R3 are we looking for?
-R1 retrace more than 0.786fib of Line A
-R2 retrace more than 0.786fib of Line B
With R3 weak momentum, seems that candlesticks might fail to even reach 0.786 of line C. A double top already formed at the MA200 line below fib 0.618 as mention in previous post https://www.tradingview.com/chart/TSLA/Po7OsGPM-TESLA-Bearish-Retracement/
Now ranging (290-320) [Boxed] where higher volume of trading are involved, shown in horizontal volume indicator(past 270 days). Holders might take a chance to offload/cut loss. A hurdle to pass through.
Stronger Support at 233-250 level.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.