I mainly use the Daily and 15 minute chart quite regularly unless otherwise then i will use the 5 minute but lets take a look at the daily and 15 minute timeframe. here
Daily Time Frame (1D): ##Let’s take a look at the bigger picture first:
Right now, Tesla’s stock is hanging around the $200 mark. If you zoom out a bit, you’ll notice it’s been a bit of a bumpy ride lately. The price seems to be showing some hesitation, like it’s trying to decide which way to go next.
##So, what’s the game plan?
There’s a key support area between $182 and $184. Think of this as a safety net where the price might land if it starts dropping. The idea here is that the price could dip down to this zone before bouncing back up, possibly even reaching $230. But don’t get too excited yet—there’s still some bearish energy in the air.
##What are the signals telling us?
The strategy that i am using here is pretty methodical, relying on signals that tell us when to buy or sell. There’s a cool little trick called the Heiken Ashi Smoothing indicator on the chart. This helps smooth out the noise, making it easier to spot trends. Right now, it’s suggesting that the overall momentum is bearish, but there are hints that things might start turning around.
##What does this mean for you?
Well, if you’re playing the long game, you might see a few green (bullish) days before the stock makes that drop towards the $182-$184 range. And if you’re quick on your feet, there could be some short-term opportunities to trade in and out during these consolidations. But be careful—there’s still a lot of uncertainty.
##15-Minute Time Frame (15M): Now, let’s zoom in a bit:
On the 15-minute chart, things are moving a little faster, as you’d expect. We are still hovering around $200, but it’s had a slight dip. Nothing major, but it’s worth noting.
##What’s happening in the short term?
There’s been a lot of back-and-forth lately, with the price consolidating—basically, it’s been stuck in a tight range. This can be frustrating if you’re waiting for a big move, but it also presents some opportunities for quick trades.
##Should you make a move?
The signals are still showing some bearish vibes, but just like on the daily chart, there are signs that a reversal could be coming. If you’re looking to make a quick trade, there might be a chance to jump in during this consolidation phase and ride a small wave before the price makes a more decisive move.
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