Hey guys, the last triangle TSLA pulled, gave us a potential 2% unleveraged profit.(See related idea below) If you're short, this newly formed triangle could mean you should be careful. Taking into account the bad news of the callback for 158.000 Teslas, Michael Burry's mega short and on the other hand the relentless hype-fueled run to the upside, this is yet another great opportunity to get in wether you're a doubter or believer. If the triangle breaks decisively to the upside, thats where we go next. If the breakdown continues we should watch the lower channel to take some profit. As always with triangles, watchout for fakeouts , set your stops tight and prefer to re-enter your position over holding on to a loser- this next move could get big.
No financial advice, just my personal opinion.
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TSLA is giving us the finger. Triangle breakout of a Triangle...this thing is getting complex like Elon.