TSLA Series – Year End
As this is our final newsletter for 2019, we will review the bigger picture of TSLA in order to provide some bigger picture direction for 2020. For those who have not yet taken the time to review the past couple of TSLA Series newsletters, all I can say is hindsight is a beautiful thing. Let this help guide you into the new year.
Turning to the charts below, the quarterly swing chart has not yet created a higher top. In the instance the market does not break the previous top, there could still be an opportunity for an overbalance of price trade. As you would be aware, this type of trade allows you to take the trade without ‘Point B’ exceeding the previous swing high.
The 2-day swing ranges are still pulling back with similar ranges, so again there is no cause for concern at this stage, but it is something to monitor and be aware of if the market starts to change.
In saying that, this does not mean the overall bull trend is over. It might mean it needs a healthy pullback in order to build the momentum to push higher again. The subtle signs are often very helpful when collaborating the roadmap.
It’s Your Perception,
Robert Steer