#Tesla potentially reached the end of its bullish 5 wave on September 1.
The first bearish leg could indicate a retracement of wave A and the current upward movement is a wave B.
The price is currently reaching a first zone of resistance (between 50% and 61.8% retracement of Wave A).
This zone also coincides with:
- The triggering of wave B (and 2 of the bear scenario).
- The REI indicator overbought in a bearish context
- A Daily S21 exhaustion point (2020/09/14)
A second zone of resistance is at the TDST line around USD 780 on the 4H chart, which would match an 85.4% retracement of wave A.
Looking for a Sell setup below this TDST resistance line can be an interesting short opportunity.
Should $TSLA close above $500USD, we could see an extension of wave 5 and the cancellation of the current waves A and B.
Best!
MATHR3E
The first bearish leg could indicate a retracement of wave A and the current upward movement is a wave B.
The price is currently reaching a first zone of resistance (between 50% and 61.8% retracement of Wave A).
This zone also coincides with:
- The triggering of wave B (and 2 of the bear scenario).
- The REI indicator overbought in a bearish context
- A Daily S21 exhaustion point (2020/09/14)
A second zone of resistance is at the TDST line around USD 780 on the 4H chart, which would match an 85.4% retracement of wave A.
Looking for a Sell setup below this TDST resistance line can be an interesting short opportunity.
Should $TSLA close above $500USD, we could see an extension of wave 5 and the cancellation of the current waves A and B.
Best!
MATHR3E
Already looking good on 2H chart