Time-Price Setup In TSLA

Aug 5, 2022 - 2:50 PM EDT

On Thursday (8/4) we had a time and price setup in TSLA. The price resistance came in at the 940.85-949.53 area. The zone included two symmetry projections and a .618 retracement of a prior major swing. The timing came in on 8/3-5 for a possible high also.

This was when we called for ratcheting up stops on longs.... and of course if someone wanted to take a short against this same time/price resistance we got our sell signals Friday. I am watching the support on the way down for a new buy decision, but I want to see the 15- or 30-min chart trigger before taking any new buy entries.

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