TSLA has met the top of a possible Shark Pattern completion and then reversed very nicely. Leaving us traders with a nice Dark cloud candlestick pattern. This could have been the last attempt at the all time highs, failing yet again! This fits the OFP strategy that predicted the long term sideways, go nowhere, direction until TSLA hits the green BUY LINE.
However at this point I'm taking a short position (long term puts) looking at least for the first target shown in red. I'll look for a possible bounce in that area. If this works out we should see a stair step choppy pattern, working our way down to the long term low. That target range is along the green buy line circled over the next few years.
However at this point I'm taking a short position (long term puts) looking at least for the first target shown in red. I'll look for a possible bounce in that area. If this works out we should see a stair step choppy pattern, working our way down to the long term low. That target range is along the green buy line circled over the next few years.