Tesla Technical Analysis: An Example of a High Probability Trade

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This is not a forecast, It's too late to post such a chart, however, it's worth mentioning as an educational post and as an example of high probability trade setups. A combination of technical conditions that present a trade to take action on.

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It also reflects on something else. Regardless the method one trader follows, looking at and trading on higher time frames (daily and weekly) is less stressfull and is a better strategy on the long run, than day trading on 15m-1H charts. Following longer term charts we always see better risk-rewards, and that teaches patience and discipline for investors. You see the bigger picture and don't feel the must to react so often.
Technician Kumowizard
Agree, but it truly depends on the personality of the trader, for example, i cant withstand a trade open for too long. Someone else might prefer to hold trades for a longer run and he wouldn't feel any stress. Some ppl might like to enter and exit very quickly, they do not accept longer pressure.
Technician Technician
I totally agree about ignoring noise.
HI Technician, Great example! Thank you for sharing it. One can literally see the loss of enthusiasm in the three waves. The first is almost strait up with each candle going nearly to the top( no wicks). The second is a bit contorted with many wicks and more slanted. Finally , the third is a a bit of a mess with it's hump and many wicks. Really nice! Thanks!
+2 Reply
Technician littleriver
Anyway, it needs a lot of courage to short a strongly up-trending market.
2use Technician
which is happening now - one more red day and here we go for a slide
2use littleriver
This comment also deserves an up :)
+1 Reply
hehe :)
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