carley621

Breakout or breakdown?

NASDAQ:TSLA   TESLA INC
146 4 4
Green box breakout, red box breakdown. If it gets into the red box I think it's going to $285. I'm already bearish on TSLA             , but this wedge is something to look at for sure.
Comment: If it can't hold right here, look for the red box.
Comment: $326 is next support. Look for a bounce or lower still
Breakout
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Can I ask why your top trend line doesn't include the highs in early / mid August?
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Lanmar gingerheadtrader
@gingerheadtrader, cherry picking
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carley621 gingerheadtrader
@gingerheadtrader, For me it doesn't matter what date you use. If you use the Aug date then you would still be in basically the same predicament your in now. I would wait to see what todays candle closes as before I would conform a breakout. If you get a gap up doji or a high wave this could be a head fake above the trend line trapping longs. I always wait for conformation. I would like a small inside day candle and trade sideways for a few day personally.
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