Big bullish call on Tesla. OVS squeeze pattern on the 4HR timeframe giving us a projected price of 1,426 $ for Tesla before the end of July. Our entery was at 816.35 $ with a SL at 798.60 $ First projected target is around 894 $ and we expect the market to 'stall' and take a little break there before moving on the the second projected key level at around 995 $ before we expect a little further 'rest' and a pullback before heading on to our full target price of 1,426 $ for a R/R ratio of 33.8/1.
This comes quite a bit later then when we entered a trade, but better late then never. If you have questions on what the OVS is and how it is traded feel free to post your questions.
Don't see what's really going on. I don't see any sales. Just playing... 'all have until 4Q and recession breakthrough.
cornelii.sandberg
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Hi Samurai110,
How do you use with OVS and OVF patterns (symmetrical triangle) or in which way do you apart from it?
samurai110
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@cornelii.sandberg, OVS is a specific type of 'symmetrical triangle' that we have developed over the past 2 years. It has specific Fibonacci and trend line rules that dont apply when you trade a typical 'symmetrical triangle' setup.
ahmad13241
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Definently possible knowing how TSLA has moved in the past. What is your success rate with this OVS software?
samurai110
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@ahmad13241, It is not a software. It is a simple pattern we trade and look for in all markets. The approximate success rate of this trading style is between 55-65% with an average R/R of 8/1. The highest R/R we have ever gotten with this strategy on a winning trade was 56/1! It was the most incredible trade.
ahmad13241
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@samurai110 impressive lol, I think I’m going to put 25k for July calls after I see some confirmation. Tsla has a lot of catalysts coming up so I wouldn’t be surprised if I see 1400 anytime soon
altinAdam
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Yes, very interesting, what, pray tell is the OVS ??
Thanks for the post.
samurai110
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@altinAdam, OVS is a 'symmetrical triangle' derivative pattern we have developed over the past 2 years. It is based on the classic 'symmetrical triangle' but it is not traded in the same way as the classic triangle pattern.
OVS is an extremely precise, highly profitable setup that gives you a projected target and 'interval levels' where you can expect the market to move against you slightly, so you know exactly what to expect and when.
The pattern is made up of 3 high and 3 lows, sometimes 4. until the market is squeezed into a very narrow channel from the original 1st High or 1st Low. (In this TSLA case, the 1st High is 964 $) The first pullback from the 1st High to First Low generates a target for the next move up, which is then projected from the final low volatility H3-L3 or H4-L4.