Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
ð TESLA has been overall bearish trading inside the falling red channel, and it is currently retesting the lower red trendline.
Moreover, the zone 55 - 70 is a strong demand zone.
ð So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand zone and lower red trendline. (acting as non-horizontal support)
ð As per my trading style:
As TESLA approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
ð TESLA has been overall bearish trading inside the falling red channel, and it is currently retesting the lower red trendline.
Moreover, the zone 55 - 70 is a strong demand zone.
ð So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand zone and lower red trendline. (acting as non-horizontal support)
ð As per my trading style:
As TESLA approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich