Proceed with caution... [4hr chart idea]So if you look at my past ideas, I base them mostly off a combination of Wyckoff, historical data/patterns, TSLA "sweetspot" fib levels, and VWAP + RSI (using varying anchors) indicators.
Right now, what i'm seeing after earnings report is a strong move up, but as it stands it looks ready to fall out.
The numbers aren't anything specific, more just my own way of keeping track of where we are compared to previous patterns.
Case and point, this "strong" earnings report I feel is short lived.
I could be wrong and have tracked things slightly off, but you can see the patterns work, so it leaves me questioning this strong move up and how long it will last for.
This is a 4hr chart, so this could take some time to play out, but it's what I'm getting so far.
WHITE ARROWS = where I think we are compared to where we were previously in similar uptrends = this has me thinking this is the beginning of a real drop out.
I've highlighted rising wedge patterns; with the current rising wedge, the rule of thumb suggests a move down to the 170 range.
This rising wedge idea works in all 3 examples as a minimum, but where the numbers are labelled with GREEN, it goes way beyond that (which is play to the bigger picture patterns happening).
I also notice a lot of reverses happen at the 0.786 with TSLA (highlighted with the dashed purple lines throughout the chart as they often line up with this part of the chart, even if it may be "eventually").
Not always, and never as quick as I'd like, but certainly worth considering... it's a case of watching the same up and down movements in the chart happen (which aren't always identical, but enough the same that you can see between the different numbers - i.e. between 4 and 5 for example) that the move is often the same).
So with that in mind, a move down to 170 range makes sense to me at present.
Other considerations include the RSI which was instantly maxed out by earnings report + the 3 month VWAP anchor which I've removed visually from this chart, but highlighted bottom ($209) + top ($253) as valuable options - so we might see some chop up and down after our move from 7 to 8, but in finding 8, it could get up to 253, and quite possible even higher.
But I'm going to work with what I've got so far after this earnings report move.
I'll update this post as the goal posts move so to speak, so make sure you click you're following so we can watch us all make bank together or get it all completely wrong :P (both can be a form of entertainment)
(and I don't care about followers, I'm actually just more interested in more people following the posts so they can add input because hive mind etc.)
Keen to hear any input at this point and let me know if anything doesn't make sense because I'm pretty prone to it :)
