Bearish times ahead with bounces along the way 🪓.
40 minutes spent on this chart, so if you like the effort then hit the BOOST and leave a comment if you like 👍.
Not advice.
40 minutes spent on this chart, so if you like the effort then hit the BOOST and leave a comment if you like 👍.
Not advice.
Note
Forgot to come back to the Wyckoff Schematic; the bearish whipsaw above ATH resistance is Wyckoff UT - UpThrust.It is the critical liquidity grab that fulfils the purpose of the "Composite Man" in Distribution.
Note
First target - $128.Lower target - $46.
What do you think, is $46 TSLA impossible ? ... lunacy to even consider ? ... 😅
We'll see... 👍
Note
On target.Note
The described bearish whipsaw was a signal that the stock market was entering a correction / crash.Note
The bearish engulf has become a whopping 56% haircut❕As I described in the video; it can work very well to sell at ATH resistance; especially in a hype stock up a ridiculous x34 from the lows.
To evident my bearish stance I made this post on Minds while it was still all the way up at ATH resistance:
If you didn't realise it before, you probably should now; TSLA is a dangerous stock.
Might see a recovery bounce but discounts are coming down the road.
Having sold the top, it would be very nice to buy deep.
Here's a chart of my earlier work:
Let's see how it develops ✨.
Note
Tiny bounce snapped straight back to the downtrend which so far is too strong for any upside action.The further this falls without a bounce, the deeper the eventual low will be.
What you're witnessing is a smart money trap to obliterate the trading herd.
Probably some of you that read this page will be part of that herd.
If you're someone that likes to believe in things, believe those things can lead to making great gains and are willing to put significant money on the line...
Then what you've done is analogous to smothering yourself with lube and closing your eyes.
Only real work gets it done.
Note
Take a look on TradingView now - here are the top 6 videos.Even after all this impulsive dump action and TSLA down 60% in the blink of an eye, no-one realises what is happening.
My call is the only thread labelled "SHORT" from 2 weeks ago.
Thats how it goes here; the blind leading the even more blind.
At some point there may well be some sort of bounce, but even if/when that happens, the eventual low will be significantly lower then where it is today; as described above.
Note
Market bounce is on but Nasdaq may now be in a technical bear market so even if this has some pop it is likely to be dead cat in the end.Shorts may be getting hot under the collar here but i'm not shorting, only looking for the eventual low which will most likely be deeper as described in the video.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.