My Current Active Open Trades: AUDUSD, AUDNZD, XAUTHB
Tesla – Corrective Structure In Place, Bearish Below Key Level (4hr chart)
After the big sell off to end last month, Tesla has formed a corrective structure between 255 and 242 (red box below). This shows very little buying interest since the sell-off, which lends itself to the next move more likely being bearish than bullish.
If the key levels around 255 and 265 hold, and are followed by impulsive selling, then we’ll likely see a retest of the 242 lows, and perhaps a move lower towards 200.
If however these levels fold, then we’ll likely see another attempt to tag the yearly highs around 287.
Until that happens, I’m keeping my …... Keep reading