The price of Tesla (
TSLA) had been going down in a 5 waves manner, which was followed by a double zigzag correction,
implying the next possible move will be another 5 waves decline
The only 2 possible patterns which can be formed in 5-3-5 are either an impulse (5-3-5-3-5) or a zigzag (5-3-5)
Therefore we can set two targets for this trade (or just separate as 2 trades)
For the first one, assuming we enter a short at $713, the stop loss will be $780.72 (above the end of wave b), the take profit will be $467.96 (assuming wave c = wave a), which give us a 1:3.6 risk/reward ratio
For the second one, the take profit will be $341.07 (assuming wave c = 1.618 x wave a), which give us a 1:5.4 risk/reward ratio
P.S. my analysis was done in log scale
TSLA) had been going down in a 5 waves manner, which was followed by a double zigzag correction,implying the next possible move will be another 5 waves decline
The only 2 possible patterns which can be formed in 5-3-5 are either an impulse (5-3-5-3-5) or a zigzag (5-3-5)
Therefore we can set two targets for this trade (or just separate as 2 trades)
For the first one, assuming we enter a short at $713, the stop loss will be $780.72 (above the end of wave b), the take profit will be $467.96 (assuming wave c = wave a), which give us a 1:3.6 risk/reward ratio
For the second one, the take profit will be $341.07 (assuming wave c = 1.618 x wave a), which give us a 1:5.4 risk/reward ratio
P.S. my analysis was done in log scale
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.