Complex Correction...Looking over counts for the bear case here and I think it's a double three style correction - if so we should complete this sometime next year in our orange box gl.
TL0 trade ideas
$TSLA - Back to $180 before ATH for christmasInstitutions targeting $180 publicly moving status to sell this week.
Kamala taking office.
Shorts biting at the bit.
Regression channel shows it has moved into bear territory.
Stochastics show a reversal from being over sold, but indicators still say bearish.
My idea is that it hits the fib at 244 and turns it into resistance as it consolidates back down to 180 as big money has predicted.
October - big AI release on their part. Look what happened to apple after their AI keynote. I predict similar after a bloody intro into fall.
So, once it gets back to sell, i predict big money changes prediction to hold or enter, and it moves back to all time highs for christmas.
Not the most creative ghost path I've drawn but the way down i'm interested in tracking.
Do you think the price of Tesla will be lower?
Do you think the price of Tesla will break the triangle pattern and see lower prices?
Join me and follow this analysis.
TSLA weekly chart shows confluence.NASDAQ:TSLA weekly chart shows that it is coming into key demand areas around $205 to $215. The weekly chart shows a Wyckoff accumulation phase since the 2021 all-time high at $414.50, with a spring during Phase C at the recent lows below $140. This corresponds to the bottom of the cup, with Phase D of accumulation corresponding to the handle. A close over the weekly 200 SMA, currently at $232, will give room to the weekly 150 SMA supply. Reclaiming these weekly supply zones may lead to a break of the weekly handle, and a push up to the final weekly supply zones of the weekly upper Bollinger Band and upper weekly 100 linear regression channel ahead of $300 during Phase E, which may start at the end of this year or into next year. The trade is invalidated below the weekly 20 SMA, which is currently at $187.
TESLA | TSLA ideaTESLA | TSLA idea
EMA100 $145 is support , below this we can expect $127/$115 and immidiate reversal to $145 will confirmation of support at 0.236 and from there we can expect long term tgt for $656
Below $115 - $82/$45 is support
TSLA perfect retestTSLA had a perfect retest of the macro wedge breakout. After the golden Fib rejection we came right back to the circle I had drawn. These wedge breakouts LOVE to give profits back. This is why you exit if you are in a short-term trade, and dont get greedy. I was able to sell my LEAP call for almost 100% profit thanks to this philosophy. I note a bottoming stochastic RSI here, and a slamming of key support that held, I think we pivot upward here.
-My strategy here was to layer in TSLL puts as we go lower
What Are Bullish and Bearish Breakaway Candlestick Patterns?What Are Bullish and Bearish Breakaway Candlestick Patterns?
Candlestick patterns are a vital tool for traders, offering insights into market sentiment and potential price movements. Among these formations, breakaway patterns are particularly notable for their ability to signal trend reversals. This article delves into the specifics of these formations, explaining how to identify, interpret, and apply them in trading strategies to potentially enhance trading outcomes.
Understanding Bullish and Bearish Breakaway Candlestick Patterns
Bullish and bearish breakaway candlestick patterns are essential indicators used by traders to identify potential trend reversals. These patterns consist of five specific candlesticks and offer insights into the market's shifting dynamics.
Bullish Breakaway Pattern
A bullish breakaway signals the potential end of a downtrend and the beginning of an uptrend. It comprises five candlesticks:
- First: A large bearish candle, indicating strong selling pressure.
- Second: A smaller bearish candle, showing a continuation of the downtrend but with reduced intensity. There is also a gap.
- Third: Another bearish/bullish candlestick, typically smaller than the second, suggesting further weakening of the downtrend.
- Fourth: A smaller bearish candle, hinting at a possible reversal.
- Fifth: A large bullish candle that closes within the gap between the first and the second candles. The signal is stronger if the candle closes above the high of the first candle.
Bearish Breakaway Pattern
A bearish breakaway indicates the potential end of an uptrend and the beginning of a downtrend. It also consists of five candlesticks:
- First: A large bullish candle, showing strong buying pressure.
- Second: A smaller bullish candle with a gap up, indicating a continuation of the uptrend but with decreased momentum.
- Third: Another bullish/bearish candle, typically smaller than the second, suggesting further weakening of the uptrend.
- Fourth: A small compressed bullish candle, signalling a possible reversal.
- Fifth: A large bearish candle that closes within the gap between the first and the second candles. The signal is stronger if it breaks below the low of the first candlestick.
Criteria for Identifying Breakaway Patterns
When identifying breakaway patterns, traders look for specific criteria:
- Trend Context: Both formations occur after a defined trend—a bullish breakaway after a downtrend and a bearish breakaway after an uptrend.
- Candle Sizes: The first candle is always the largest, showing strong market sentiment in the trend’s direction. The subsequent candles typically decrease in size, indicating a weakening trend.
- Confirmation Candle: The fifth candle is crucial as it confirms the reversal. It must close within the gap between the first and the second candlesticks.
These patterns are valuable for traders as they provide early signals of potential trend changes, allowing for more strategic planning and analysis.
To get started spotting your own patterns, head over to FXOpen’s free TickTrader platform to explore real-time forex, stock, and cryptocurrency* charts.
Caveats to the Pattern
While these rules represent the ideal breakaway formation, there can be some flexibility. For instance:
- Candle Sizes: The first candle should be the largest and the next three smaller. However, the middle three don’t necessarily need to be consecutively smaller, just smaller than the first.
- Transition Candle: If the fourth candle shifts colour (bullish for bullish breakaway, bearish for bearish breakaway), this can add confirmation that a potential reversal is underway.
- Closing Beyond the First Candle: While the fifth candle closing beyond the first is preferable, it’s also acceptable if the following (sixth) candlestick is the one that closes below the first. The idea is that the final movement of the formation engulfs the prior candlesticks, signalling a reversal.
- Gaps: A gap between the first and second candle indicates momentum before the subsequent reversal, implying that the reversal may have more strength behind it as traders buying the top/selling the bottom exit their positions. Gaps may be visible on daily charts (especially in stocks) but not on intraday charts or in more liquid assets, meaning they are not essential.
Interpreting the Breakaway Pattern
Interpreting breakaway patterns provides traders with valuable insights into potential market reversals. These formations indicate a shift in market sentiment and offer signals for possible trend changes.
Inferences from Breakaway Patterns
- Shift in Momentum: A bullish breakaway candlestick pattern suggests that bearish momentum is weakening, and buyers are gaining control. Conversely, a bearish breakaway indicates that bullish momentum is fading and sellers are taking over.
- Market Sentiment: The appearance of the final large candlestick signifies a strong sentiment shift. In bullish formations, it shows increasing buyer confidence, while in bearish formations, it highlights growing seller dominance.
- Potential Entry and Exit Points: Traders often use these formations to identify potential areas for entries, aligning with broader market analysis and risk management plans.
Key Considerations
- Context Matters: Breakaways are more reliable when they occur after a well-established trend. Identifying the prevailing trend's strength and duration may enhance their validity.
- False Signals: Not all breakaway patterns result in significant reversals. Market conditions, news events, and broader economic factors can influence outcomes, so it's crucial to consider these elements.
- Confirmation: Waiting for the fifth candle to complete is essential. Premature conclusions based on incomplete patterns can lead to inaccurate interpretations.
Applying the Breakaway Pattern in Trading Strategies
Incorporating the breakaway pattern into trading strategies involves looking for additional confluence, using momentum indicators, and employing sound risk management practices.
Additional Confluence
Traders look for other factors to confirm the validity of the pattern:
- Shift in Fundamentals: A significant news event or change in economic conditions can support its signal.
- Support and Resistance Levels: The pattern may be more reliable if it occurs near key support or resistance levels, indicating a stronger potential reversal.
- Volume Analysis: Increased trading volume during the subsequent reversal adds credibility.
Using Momentum Indicators
Momentum indicators can provide further confirmation:
- Average Directional Index (ADX): ADX is commonly used to identify the strength of the trend. Low numbers coinciding with the pattern strengthen the signal of a trend change.
- Commodity Channel Index (CCI): As the breakaway formation often appears at the end of a trend, CCI might show that the price is overbought (bearish breakaway) or oversold (bullish breakaway), supporting the reversal.
- Momentum: Divergences between price action and the indicator can be powerful confirmation tools, indicating a potential reversal.
Entries and Risk Management
Traders typically enter a trade once the price closes beyond the high (bullish) or low (bearish) of the first candle in the pattern. Some traders might wait for an additional candle to confirm the reversal.
Stop Losses
Placing stop losses just beyond the high (for bearish) or low (for bullish) of the formation helps potentially manage risk.
Profit Targets
Profit targets might be set using several methods:
- Risk/Reward Ratio: At a favourable ratio, such as 2:1 or 3:1.
- Support and Resistance Levels: Targeting the next significant support or resistance area where a reversal might occur.
- Technical Indicators: Exiting based on signals from indicators, such as RSI crossing into the overbought territory after a bullish entry.
The Bottom Line
Understanding and applying breakaway patterns can potentially enhance trading strategies by providing early signals of trend reversals. For traders looking to implement these techniques, opening an FXOpen account offers a robust platform to explore this and other advanced trading strategies.
FAQs
What Is the Bullish and Bearish Breakaway Pattern?
The bullish and bearish breakaway patterns are five-candle formations in technical analysis that signal potential trend reversals. A bullish breakaway occurs at the end of a downtrend and indicates a possible shift to an upward trend, characterised by a sequence of weakening bearish candles followed by strong bullish ones. Conversely, a bearish breakaway appears at the end of an uptrend, suggesting a shift to a downward trend, marked by diminishing bullish candles followed by decisive bearish ones.
What Is the Bullish Reversal Candlestick Pattern?
It is a formation in technical analysis that signals a potential shift from a downtrend to an uptrend. It typically occurs at the bottom of a downtrend and is characterised by single or multiple candlesticks indicating that buying pressure is increasing, suggesting that the asset's price may start to rise. Common examples include the hammer, bullish engulfing, and morning star patterns.
What Is the Bearish to Bullish Reversal?
The bearish to bullish reversal is a shift in market sentiment where the trend changes from downward to upward. This indicates that selling pressure is decreasing and buying pressure is increasing, suggesting a potential rise in the asset's price. This reversal can be identified through various technical analysis tools that signal the end of a downtrend and the beginning of an uptrend.
*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Tesla (TSLA) .. Dueling HarmonicsA crap shoot given managements ability to play with earnings.
This could go either way .... or not.
I won't even try to handicap.
Lets watch on the sidelines and perhaps go with the flow !
This is a 30 minute chart !!
S
Tesla --- Wait for bottom BuyMy fav Share is again forming BULLISH pattern and is about to hit bottom....
I am expecting a huge upside again :-)
Gautam
TSLA 7/27Tesla (TSLA) on a 1-hour timeframe shows several key technical elements:
Trend and Price Action:
The price has been in a downtrend, with a recent attempt to recover.
There is a visible downtrend line connecting the recent highs, suggesting resistance.
The current price is around $224.71, with a recent low of approximately $195.27.
Volume Profile:
The Volume Profile indicates a high concentration of trading volume around the $224.70 area, which could act as a significant support or resistance level.
The Value Area Low (VAL) is at $224.55, and the Value Area High (VAH) is at $224.79, indicating a narrow range of significant volume concentration.
Moving Averages and Indicators:
The MACD (Moving Average Convergence Divergence) at the bottom shows recent bullish crossover, suggesting potential bullish momentum.
Volume bars indicate varying levels of trading activity, with a spike in volume near the recent low.
Support and Resistance Levels:
Immediate resistance levels are around $249.89, $255.86, and $260.00.
Immediate support levels are around $224.70 and $224.55, with stronger support around the recent low at $195.27.
Technical Analysis Summary
Bullish Indicators:
The MACD bullish crossover indicates potential for upward momentum.
The price has recently bounced from a low and is attempting to break through resistance.
Bearish Indicators:
The overall trend has been downward, and the price is still below key resistance levels.
The narrow range of the Volume Profile at the current price level suggests potential for volatility.
Trading Strategy
Bullish Scenario:
If the price breaks above the resistance around $224.79 with strong volume, it could indicate a potential move toward higher resistance levels around $249.89 and $255.86.
Monitoring the MACD for continued bullish momentum and the volume for confirmation is crucial.
Bearish Scenario:
If the price fails to break above the resistance and starts to decline, it could retest the recent support levels around $224.55 and potentially the recent low of $195.27.
Watching for a bearish crossover in the MACD and an increase in selling volume can confirm this scenario.
Conclusion
Currently, TSLA is in a critical zone around the $224.70 area. Breaking above or below this range with significant volume will likely set the next directional move. Traders should monitor these levels closely and look for confirmation signals from volume and momentum indicators.
TSLA: Time to React? (D&H charts).As we warned in our last study, resistance at 265 was extremely dangerous, and prevented the uptrend from persisting.
In addition, TSLA's price lost critical support levels, which reversed the trend in the short term, materializing the pullback on the daily chart that I mentioned in my last public study here on Tradingview, the link to which is below this post.
Now, TSLA's price is trying to react around its support level near the open gap at 213.23. If TSLA fails to materialize a bullish reversal at this support area, we can expect more bearish continuation, and the next target would be 205.30.
So the timing is critical, and it all depends on how TSLA closes this week.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Covered call on TSLA Love this chart. This gap down is SEMI bullish, but we have some time to wait on this and I'm excited to see TSLA grow higher into $300 towards end of year.
$TSLA i think tesla is about to reach the skies.-Support zone has been hit
-Critical support level for tesla
-Teslas new Robotaxi and new AI are being added
- Fibi area of 0.618 has been hit
LETS MAKE PROFITS!!!!!!!!!!!!!!!!!!!!
$TSLA Tesla Trendline test coming upThe medium term downtrend was broken and we are headed back to test that breakout at $228.
With the volatility in this share it wouldn't surprise me if we close the gap at $213 as part of the trendline test.
If the trendline holds it could offer another buying opportunity.
Earnings expected on 23 July and this remains a speculative buy.
TESLA Update - Above 180 we look for bullish variables Tesla gave us some insane profits from our last set up below, now it has turned however.
Earnings has resulted in a single day 12% loss and probable continuation after. So what should we do now?
Our theory is that Tesla is in it's third major wave and therefore can't take out is low for this to remain valid. We expect Tesla to make a higher low, probably above 180, pivot and run to 300 as a first target. This gives us an accumulation idea for now that can turn into a trade set up like our last if more variables develop. We are buying some stock today and will accumulate above 180. If futher edges develop we will update.
A second important point is we believe Tesla will outperform relative to the nasdaq in the mid to long term. It has underperformed for the past couple of years but the tide might be shifting. The chart below showcases our argument.
Cup & HandleStart forming a Cup & Handle pattern.
Waiting for the handle to form and as well the confirmation when breaking the upper resistance trendline on the handle
Target: in the area of $440 - 470
TSLA: BUY THE DIPTSLA: BUY THE DIP
-Demand zone support.
-Key level support.
-Fibo golden zone retracement at 0.618.
.
US STOCKS- WALL STREET DREAM- LET'S THE MARKET SPEAK!
TSLA does the upcoming RoboTaxi announce change things LONGTSLA has the accouncement upcoming. Price will pump for sure. Will it then dump or
change the trend altogether? The forecasts are there. The tea leaves and crystal balls
will tell the rest of the story. In the meanwhile, I will take long trades to play this in
the immediate term. One million taxis making $250 / per day every day per each is
serious potential future growth perhaps at the expense of UBER and LYFT which may get
a bearish bias in the short term on this upcoming announcement. Playing the news
sometimes works.
TSLA basing on its volume profile for a trade LONGTSLA on the highly reliable weekly chart is at the bottom of its volume profile in the lower
part of the high volume area. The TTM Squeeze Indicator ( TTM = Trade the Market John Carter)
has printed a signal for four weeks. The RSI faster and slower lines are near to the 50 level.
The mean relative volatility has steadily decreased and this is in an increasing squeeze state.
This is a setup for a patient trader to take a position in a swing trade. I am looking for a trade
into the upper part of the high volume area and so to the 240-280 range. I will get some shares
as well as a few call options for November (ITM). TSLA will be subjected to a number of
variables making the trade a bit risky including the Musk compensation battle, the China
economy, competition with Chinese EVs in Europe, federal rate actions and the presidential
elections as well as the evolution of self-driving. It is TSLA's volatility that makes it a great
trade. My entry signal here is a TTM indicator going black to white.
TSLA Support and Resistance LevelsThese are the major levels on TSLS
270
215
160
We are still above 215 thats why i believe TSLA might get a bounce here. We cant confidently short above 215 because thats a major support level. Once we break that we can short again to the bottom.
Tesla - Clear fakeout With the repeated recalls, multitude quality issues, timelines that are repeatedly never met, with competitors from the east catching up and some even getting ahead coupled with the general lackluster future of the company it's a pretty obvious short.
Disclaimer: These are not trading signals. Trade at your own risk!
Hanging ManAfter an impressive rise we will probably finish the week with a Hanging Man expressing the jump as exhaustive.
A correction of the rise shall be due.
