Hi Traders,
Tesla (TSLA) has an easy trading setup coming up. has been consolidating for a while and has managed to give a nice strong break to the upside, Now I am looking at potential longing opportunities as price retraces back to the point of the break-out. In my previous post, I was looking for a short which has not played out and I mentioned that there still is room for price to break to the upside.
We are now trading at 780 and approaching a point of entry for this setup. I would like to see price reject the zone and give me signs of some bullish momentum before taking a buy. My target is for price to fill the clean range that it has created on the way down. The target price is around 950.
On the flip side if price does not manage to continue the push, I will be looking for a break back below 745 where we can start looking at shorting setups, But for now let us work with what the market is currently giving us.
As always remain patient and stick to your trading plan.
Renaldo Philander.
Tesla (TSLA) has an easy trading setup coming up. has been consolidating for a while and has managed to give a nice strong break to the upside, Now I am looking at potential longing opportunities as price retraces back to the point of the break-out. In my previous post, I was looking for a short which has not played out and I mentioned that there still is room for price to break to the upside.
We are now trading at 780 and approaching a point of entry for this setup. I would like to see price reject the zone and give me signs of some bullish momentum before taking a buy. My target is for price to fill the clean range that it has created on the way down. The target price is around 950.
On the flip side if price does not manage to continue the push, I will be looking for a break back below 745 where we can start looking at shorting setups, But for now let us work with what the market is currently giving us.
As always remain patient and stick to your trading plan.
Renaldo Philander.