Tesla (TSLA) Bearish Harmonic Pattern – Potential Reversal at Re
Tesla (TSLA) 15-Minute Chart Analysis
Key Observations:
Harmonic Pattern Formation:
The chart shows a Bearish Harmonic Pattern (possibly a Gartley or Bat pattern).
The pattern completed at point X, near 235 - 236 USD, suggesting a potential reversal zone.
Bearish Rejection at Resistance:
The price reached the X-point resistance and is showing signs of rejection.
The black arrows indicate a possible move downward, confirming a bearish scenario.
Support and Resistance Levels:
Resistance Zone: Around 235 - 236 USD (where the price reversed).
Support Zone: Near 228 - 230 USD, which could be the first downside target.
Volume Consideration:
There is high volume at the bottom, which suggests previous buying pressure.
If selling pressure increases near X, it strengthens the bearish outlook.
Trade Outlook:
Bearish Scenario: If the price continues to reject at 235 - 236 USD, it could drop toward 228 - 230 USD.
Confirmation: A break below 230 USD may accelerate the decline toward 225 USD.
Invalidation: A strong breakout above 236 USD would invalidate the bearish setup and suggest further upside.
Key Observations:
Harmonic Pattern Formation:
The chart shows a Bearish Harmonic Pattern (possibly a Gartley or Bat pattern).
The pattern completed at point X, near 235 - 236 USD, suggesting a potential reversal zone.
Bearish Rejection at Resistance:
The price reached the X-point resistance and is showing signs of rejection.
The black arrows indicate a possible move downward, confirming a bearish scenario.
Support and Resistance Levels:
Resistance Zone: Around 235 - 236 USD (where the price reversed).
Support Zone: Near 228 - 230 USD, which could be the first downside target.
Volume Consideration:
There is high volume at the bottom, which suggests previous buying pressure.
If selling pressure increases near X, it strengthens the bearish outlook.
Trade Outlook:
Bearish Scenario: If the price continues to reject at 235 - 236 USD, it could drop toward 228 - 230 USD.
Confirmation: A break below 230 USD may accelerate the decline toward 225 USD.
Invalidation: A strong breakout above 236 USD would invalidate the bearish setup and suggest further upside.
Trade active
Pattern Identified: Bearish Harmonic Pattern (likely a Gartley or Bat).
Key Resistance: 235 - 236 USD (Potential reversal zone).
Support Levels: 228 - 230 USD (first target), further downside to 225 USD possible.
Bearish Confirmation: Rejection at resistance with price failing to break above 236 USD.
Invalidation: A breakout above 236 USD would shift bias to bullish.
Trade Outlook: Watch for a breakdown below 230 USD to confirm the bearish move. 🚨📉
Trade closed: stop reached
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Forex Gold & Crypto signals with detailed analysis & get consistent results..
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Related publications
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.