TeslaShort
TSLA SHORT
We are now at the second half of the year. By use of quarterly theory, it is also evident that we are in the third quarter. I see (XAMD) pattern. by which the X is clear to see it as reversal
For knowledge purposes, X - Reversal/Continuation, A - Accumulation, M - Manipulation, D - Distribution.
Usually, we have either a (XAMD) pattern or (AMDX) pattern.
For Tesla. the pattern we identify, is also the zone which broke structure to the downside. On plotting the fibs from the initial high of the original trend and the recent low, is at 70.5% - 78% zone. Which adds to the confluence.
Hence primed for a ripe selling pressure about to come on board.
For knowledge purposes, X - Reversal/Continuation, A - Accumulation, M - Manipulation, D - Distribution.
Usually, we have either a (XAMD) pattern or (AMDX) pattern.
For Tesla. the pattern we identify, is also the zone which broke structure to the downside. On plotting the fibs from the initial high of the original trend and the recent low, is at 70.5% - 78% zone. Which adds to the confluence.
Hence primed for a ripe selling pressure about to come on board.
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.