Tesla on a major bearish retracement to fill in gaps
As you can in the previous year tesla rallied to the upside creating gaps along the way and the market maker usually fills in the gaps by creating retracements( higher lows). However they have left behind a huge gap between the 410 & 433 price level and smaller gaps around 525 & 501 level.
So from observation this market is expected to continue its downtrend towards the 410 price level ,while forming lower highs along the way. The lower highs can be used with fib retracement levels as great entry points for selling opportunities.
Targets 550,470 & 410 (main TP).
Should the market change direction or breakout from downtrend before hitting 410 price level ,it will only be seen as an attempt by the market maker to create liquidity before filling in the gap.
So from observation this market is expected to continue its downtrend towards the 410 price level ,while forming lower highs along the way. The lower highs can be used with fib retracement levels as great entry points for selling opportunities.
Targets 550,470 & 410 (main TP).
Should the market change direction or breakout from downtrend before hitting 410 price level ,it will only be seen as an attempt by the market maker to create liquidity before filling in the gap.
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