Fibonacci Price Level Planning Grid for Tesla TSLA

Dec 9, 2014: 3:12 PM CST

What broader price levels are important for trading (or planning trades in) Tesla?

Let’s chart our broader Fibonacci Confluence Grid and find out where these levels overlap for targets and entries:

The chart above shows how I constructed the Fibonacci Confluence Grids.

For planning, be sure to view the tighter-zoomed chart below:

The main idea is that the Fibonacci is NOT magical; it’s not going to predict where price will turn at the exact level.

It’s a guide for planning, particularly when we see multiple levels overlap (intersect) at very similar levels.

At the moment, we’re seeing three short-term levels to watch:

  • The $234.00 per share smaller overlap
  • The wider $215.00 to $220.00 level (which can also be seen as the “Neckline” of a Head and Shoulders Pattern)
  • The wider $195.00 to $200.00 level which is a possible downside target if price fails to break above $220.00 here.

Again, these are guideposts to target and locate stop-losses (beyond these levels).

Incorporate these overlapping Fibonacci Levels into your current analysis and indicator signals.

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2 Comments

2 Responses to “Fibonacci Price Level Planning Grid for Tesla TSLA”

  1. Zohaib Says:

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  2. Ozefa Says:

    It is very nice to be trading with Fibonacci,
    Support/Resistance level, it is very useful, but we need to be very certain
    that we don’t do anything silly and always use tight stop loss with this. I am
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