TSLA: Resistance Retest Sets Up Two Clear Paths

16 Ağu

Tesla (TSLA) is displaying strong bullish market structure with clear higher highs and higher lows on the 4-hour timeframe.

**Key Technical Observations:**

📈 **Trend Structure**: Higher highs and higher lows confirm the uptrend is intact.

💪 **Key Support Level**: Proven buyers established at $308.20.

🔄 **Resistance Break & Retest**: TSLA has broken through resistance and is now retesting it from above - a classic bullish signal.

**Potential Scenarios:**

1️⃣ **Retrace to Support**: The logical next step is to retrace to the proven buyers at $308.20 (bearish target at $308.30) before another leg higher. This would offer a lower-risk entry point.

2️⃣ **Direct Move Higher**: We could also just head up to $343.50 from here, either to break up higher or just retest the resistance there.

**Trading Approach:**
Currently retesting broken resistance. Be prepared for either scenario - a retrace to $308.30 or continuation to $343.50. Both paths remain valid within the current bullish structure.

*Not financial advice. Always do your own research and manage risk appropriately.*

20 Ağu

İşlem aktif

the buy order is active and nearing SL but not quite, if we get a strong move down the bearish case could be correct.