"Tesla (TSLA) Trade Setup: Key Levels & Confirmed Strategies"

29 Nov 2024

TSLA Expert Analysis of Tesla, Inc. (TSLA) on a 1-hour Timeframe
Current Market Structure:
Break of Structure (BOS): Indicating significant changes in trend.
Change of Character (CHoCH): Suggests potential trend reversal or continuation.

Fair Value Gap (FVG) and New Gap (NG): Highlight areas where price may return to fill gaps, acting as potential support or resistance.

Fibonacci Retracement Levels:
Key Fibonacci levels to identify potential support and resistance areas:

0.382: $332.21

0.5: $330.25

0.618: $328.29

0.705: $326.85

0.786: $325.45

The 0.5 and 0.618 levels are particularly noteworthy as they often act as strong support or resistance zones.

Volume Profile:
The Volume Profile shows the traded volume at different price levels.

Higher volume areas indicate strong support or resistance zones.

The highest volume node around the $335.41 level suggests a significant resistance area.

Indicators:
Relative Strength Index (RSI): Currently at 49.32, indicating neutral market conditions.

MACD (Moving Average Convergence Divergence): The MACD line is close to the signal line, suggesting potential for a crossover.

Buy Strategy with Confirmation:
Price Action: Look for a bullish CHoCH or BOS, indicating a potential upward trend.

RSI Confirmation: RSI should be above 50 and ideally moving upwards.

MACD Confirmation: MACD line crossing above the signal line, with a positive histogram.

Volume Confirmation: Increasing volume on bullish candlesticks.

Entry Point: Enter a buy position if the price breaks above the resistance level at $335.41 with strong volume.

Stop Loss: Place a stop loss below the recent swing low at $330.00.

Take Profit: Set a take profit at the next resistance level around $343.54, or use a trailing stop to lock in profits as the price moves in your favor.

Sell Strategy with Confirmation:
Price Action: Look for a bearish CHoCH or BOS, indicating a potential downward trend.

RSI Confirmation: RSI should be below 50 and ideally moving downwards.

MACD Confirmation: MACD line crossing below the signal line, with a negative histogram.

Volume Confirmation: Increasing volume on bearish candlesticks.

Entry Point: Enter a sell position if the price breaks below the support level at $330.00 with strong volume.

Stop Loss: Place a stop loss above the recent swing high at $335.41.

Take Profit: Set a take profit at the next support level around $326.61, or use a trailing stop to lock in profits as the price moves in your favor.

Conclusion:
This analysis provides a detailed view of Tesla's stock price action with various technical indicators and annotations. The buy and sell strategies outlined above are based on key support and resistance levels, volume confirmation, candlestick patterns, and structural breaks. These strategies aim to maximize profit while minimizing risk.

If you have any further questions or need additional analysis, feel free to ask! Happy trading! 🚀✨

29 Nov 2024

Catatan

Disclaimer: The information provided in this analysis is for educational and informational purposes only and should not be considered as financial advice. Trading and investing involve substantial risk, and it is possible to lose more than your initial investment. Always conduct your own research and consult with a financial advisor before making any trading decisions. The author of this analysis does not accept any liability for any loss or damage that may arise from using the information provided. Use this analysis at your own risk.

29 Nov 2024

Catatan

Disclaimer: The information provided in this analysis is for educational and informational purposes only and should not be considered as financial advice. Trading and investing involve substantial risk, and it is possible to lose more than your initial investment. Always conduct your own research and consult with a financial advisor before making any trading decisions. The author of this analysis does not accept any liability for any loss or damage that may arise from using the information provided. Use this analysis at your own risk.

29 Nov 2024

Trade aktif

TP Almost Done buy side

29 Nov 2024

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