Update on teslaHi, quick update.
i do want to update some bearish technical scenerios that align with liquidity concepts. (neither bullish or bearish idea is 100% to occur and its important to prepare to all scenerios)
The latest test on demand was not what i was hoping to see. with prices making bad lows (confirm on TPO) and creating a liquidity pool, showing a lack of strength (market moves on the path of least resistance) from buyers(volume is low market shows uncertainty around current price).
We have a gap down (green rectangle) and bad lows, the last imbalances on the chart at 199.48 (if we dont consider the aug 5 bad lows duo to the japanese sell off)
These will hit stop losses and reset highly leveraged positions and most importantly will provide wallstreet a premium price on tsla shares.
That price aligns with targets from both bearish and bullish sides. as of now we are holding the daily 100 ema
the 200 EMA is 201 and the yearly VWAP is also confluencing with that EMA. SHOCKING!
If we are at the parliamentary supply a selling climax will follow.. and the target for it would close the imbalance and the gap would provide us a good low to buy from and grab upside liquidity if not break resistance finally.
in terms of RSI a sell off to that area will give us an oversold RSI on the daily and hit the orderblocks down there!
I am still bullish on tesla but acknowledging these bearish scenerios will help up understand what is happening if they happening. I closed my CFD position in tiny profit but i am still keeping my value investment on and havent sold a bit.
I will happily go further down and give myself a nice CFD trade on tesla from these price targets.!
This is not a financial advice but simply me sharing my ideas and journaling my investments and trading. I hope you all have a great day
I AM STILL BULLISH
THERES A REASON WHY THEY ARE CALLED SHORTS (SHORT TERM) AND LONGS (LONG TERM)