Catching The Sell Setup In TSLA

We had another simple symmetry sell setup but in TSLA this time.  The resistance came in 987.07.  The actual high was made at 987.69 which was close enough to watch for a sell trigger.  The 30 min sell trigger fired off around the 938 area when the 8/34 ema crossed to the downside and we also took out a prior swing low.  Faster entries against this zone would have been with the day trade triggers.  

Note that we met the minimum downside target on this one so I would ratchet down stops just in case we start to see a reversal back up.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.