TSLA holds the gap

17 Nov 2020

TSLA had some beautiful price action worth noting today. It held the 50% retracement level of the day's gap. What was even more interesting was the lower timeframe price action on the 1minute (see screenshot).

After holding the 50% retracement on the medium term timeframe it also held the 50% retracement of the move off the support as a fractal of the price action. This also setup a classic chart pattern of an inverse head and shoulders at that level. All aspiring chartists should take note. I have this now saved in my archives as a great example of multiple aspects of price action studying playing out.