Trade Idea #34 - $TSLA - Short term upside

Entered long today (bought sub 230). Sadly just missed (about 25 cents!) the 250 short that would've played out very well.

Bought at 224. Stop near 220 thru 216. Target 240 area.

ReasonsGood Luck
Comment: Revised set-up with reduced drawdown (see comment chart). Watching price action along resistance line.
Trade closed: stop reached: Drawdown reached. 1.5% Loss.
It is tesla, so we never know:) good luck.
there needs to be a catalyst for the up move and I can not think of one yet! so, by default this is going lower for now.
Also, the analyst just down graded and therefore the self fulfilling prophecy is in motion. I think this is heading to the fib of the average analyst rating.
0.638*288 = 185 or so (sub 200) it just crossed the 200 day moving average and the last time that happened it move down another 40 points.
My guess would be a bloodbath tomorrow.
Alekznder mazdaki
Catalyst? I'm only looking for a small retracement. I should have held my 265, and not managed my upside though. Anyways as I said will be watching price action tomorrow. Next chart will be bearish :)
Don't play with fire. This going much lower.
+1 Reply
Alekznder mazdaki
Yeah, feels like I'm over-trading this one. I agree on going much lower. Watching carefully tomorrow.
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