This is a trade setup, intraday and FREE for TSLA (Tesla) on the 30 day 1 min chart. Potential move is as much as 16 points on the trigger point which is essentially now.
Best case scenario: It literally just broke 1.00…first wave was 206 to 216, or ten points, W2 was intraday drop to 211 and change, and Wave 3 is about to start as it just broke 1.00 minutes ago. Highest target on a 1.618 golden ratio move would be as high as 226-228 on a Wave 3. Good time to buy would be now.
Worst case: Failure at 216 and a drop below 212 setting up W2 test at 210. Don’t jinx it!
Trade setup: Would buy right at 216 with a stop at 213..risk is 3 points but reward is as much as 16 points to the upside from here..based on the bottom formation we got this week in NASDAQ, TSLA should fly here. Almost a no brainer Wave 3 1.618 golden ratio trade setup that works 80% of the time. The name is MUSK. ELON MUSK.