TSLA Swing Trading Plan
Updated
While trading off a 2H chart, I have marked pivots with vertical lines. Pivot points are also
supported by findings on the three indicators- the price-volume trend, the stochastic RSI
and the normalized MACD. The trade plan is quite simple. Upon a pivot low I will buy 3 shares.
The actual entry will be made more precisely on the 15 minute chart. Upon a pivot high, I
will sell one share to realize that profit. Likewise, the actual exit will be made more precisely
on a 15-minute chart. This more or less is a modification of a zig-zag type strategy. Staying on a
2H chart will avoid chasing minor trends and allow trend following of the super trend. In doing
so , the trades will be less frequent but will better accuracy and perhaps better gain. For
risk management. I will not buy any shares when there is any risk in the trade at all or any
of the indicators are even remotely suggestive of bearish divergence or overall trading
volume day on day seems to be decreasing.
supported by findings on the three indicators- the price-volume trend, the stochastic RSI
and the normalized MACD. The trade plan is quite simple. Upon a pivot low I will buy 3 shares.
The actual entry will be made more precisely on the 15 minute chart. Upon a pivot high, I
will sell one share to realize that profit. Likewise, the actual exit will be made more precisely
on a 15-minute chart. This more or less is a modification of a zig-zag type strategy. Staying on a
2H chart will avoid chasing minor trends and allow trend following of the super trend. In doing
so , the trades will be less frequent but will better accuracy and perhaps better gain. For
risk management. I will not buy any shares when there is any risk in the trade at all or any
of the indicators are even remotely suggestive of bearish divergence or overall trading
volume day on day seems to be decreasing.
Trade active
TSLA has averaged 56% over the past month with no predictive value towards the month forward. With the buy high sell higher approach I hope to average 3% per trading day on this adding and subtracting shares dynamically at pivot points.Trade active
My stop loss on TSLA trades is one average true range on the 2H chart or about $2.50 or about 1%. My upfront risk on the entire trade is about $7.50 with the stop loss advanced by price action and risk-off as soon as the price advances $2.50 with the stop loss raised to break even. The manual adjustment or trailing loss of 1.5-2% ( greater than ATR) to stay in the trade with minimal screen time.Trade active
TLSA pulled back as it received a downgrade by a lead analyst which offset thepress conference about its intent to go into the East Indian market. I find it an opportunity to add to my position.
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