My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks, crypto, options and indices🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Tesla.
With the Covid19 Crash in March of 2020 Tesla stock perfectly entered a solid rising channel and and pumped more than 1000% towards the upside before retracing 70%.
Following this bullish trajectory I do expect another short term pullback to retest the $200 level before we could see a pump at least back to the previous all time high at $400.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.
Keep the long term vision🫡
Comment
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New update:
All the way back in 2020 Tesla stock broke out of a monthly triangle formation and pumped more than 1.500% towards the upside. You can see that at the moment Tesla stock is once again creating a monthly triangle formation and there might be another breakout coming soon.
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When the market moves where, and how, and if - these are all unknown. The only thing which you can control is your risk. - Philip Basic Trading -
@basictradingtv THIS. If you think Tesla or any other stock is immune to the impending market crash then you are in for a rude awakening and you will lose....BIG
basictradingtv
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@bradc1984, I have my risk managed so it is quite unlikely that I will lose BIG...
bradc1984
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@basictradingtv, good, that’s all that matters. I went long on Tesla today and made around 20%, closed it and went short. Target is $195 within 1-2 months at the most but knowing how volatile Tesla is it could be 2 weeks
Although I am short-term bearish on Tesla, TSLA will be the great runner later when the bullish cycle starts.