Markets bounced strong today... but will Tsla join or be the one to take the hit so the other stocks can run? TSLA had a Rough Day I'll Keep this simple..
Here are my thoughts on Distribution Schematic: 114% Bull Run in 1 Month - Mainly Short-Squeeze Move We could see one more move up in a Wyckoff fashion - this will burn the $200 call options along with all the puts added in past 2 days, setting up a Bear Trap and generating more FOMO for Bull Trap 3 thus providing Liquidity for "Composite Man" to make the most $$$
-I also believe that a Markdown is needed for Institutional Buyers to get back into the stock @ lower pricing. Both Scenarios are viable, yet I'm leaning towards#1 .. but will be prepared to go with the trend.
Long-Term Bull/ Short-Term Bear
good Trading Today
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Trading View has issues with after-hours trading info on charts, but .. afterhours TSLA trading ended up kinda bullish, forming a "Dimond Bottom on the 15 min which could push the stock to $196 area tomorrow.. we will see how tomorrow opens up
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Tesla is currently breaking out with Market- Measured move of this break-is $198 If Tsla can get that high, it has a chance to reverse the Island Gap reversal from yesterday and re-enter trading zone $195-$97 will be strong resistance
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Starting to unload my Positions bought yesterday - Below $195 will be my last stop-limit
Tsla Over 199 & I will re-commit
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Consolidation :
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Max-Pain on Options -$195 MAx Pain Between $193-$198 is best for Wallstreet to make the most $$$ - 115,00 $195 puts 120,000 $200 Calls
POC on Volume Profile is $197.18 *I want to see price Close above $198
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Great area for Long and Shorts Risk to Reward: x7 & x 9
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2 Positions Longs are ion $ Shorts just started : Risk to reward 1:9
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Will TSLA Hold or FLUSH?
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I believe that it is imperative for TSLA to close above $197 today
POC + Support channel Containment
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I may have been wrong about the $197 price point... Daily Close on Macro is not good.."Technically Speaking,...
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FYI - Big Bounce for QQQ which is Super Bullish.. but Volume was not as large as I had hoped for.. be careful going to Bullish in the markets next week...Don't be afraid to take profits...
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Rounding Top Breakdown see chart for my entry info
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Rounding Top Played out perfectly! - $188-191will be resistance on way up
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below $185 we can see TSLA go to $182
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Target Zone #2 reached ... I'm not to confident with a retracement .. Jobs report may send this down further
Could be a bear pennant forming for another move down, or chop and consolidation to follow your Distribution #2 pattern. My thoughts exactly on price movement. Great chart!