The Two Reasons I Might Go Long On Tesla
Updated
On the weekly timeframe for 
TSLA, I noticed two things immediately.
- A candle closed above the downwards trendline indicating strength in buyers
-TSLA recently bounced off of a Fair Value Gap (FVG)
Given these two reasons, I am bullish onTSLA as of now.
Stop Loss / Take Profits
Stop loss:
The stop loss of this trade is set at a close below the low of the candle that bounced off of the FVG. A close below the FVG would signify that the bounce was fake, and there is still more downside.
Take Profits:
All of these take profits are set at levels that were recent highs.
My plan would be to scale out half of my position at TP1, 1/2 of the remaining position at TP2, and fully out at TP3
Let me know what you think of this trade!
TSLA, I noticed two things immediately.- A candle closed above the downwards trendline indicating strength in buyers
-
TSLA recently bounced off of a Fair Value Gap (FVG)Given these two reasons, I am bullish on
TSLA as of now. Stop Loss / Take Profits
Stop loss:
The stop loss of this trade is set at a close below the low of the candle that bounced off of the FVG. A close below the FVG would signify that the bounce was fake, and there is still more downside.
Take Profits:
All of these take profits are set at levels that were recent highs.
My plan would be to scale out half of my position at TP1, 1/2 of the remaining position at TP2, and fully out at TP3
Let me know what you think of this trade!
Note
Take Profit 1 has been hit. Always like to scale majority of position at the first TP!Note
TP 2 is about to hit. This was an A+ set up for me, but I wasn't expecting a 30% gain within weeks! Crazy trade. Cheers to those who saw the same opportunity.Note
Take Profit 2 has been hit. I have scaled 75% of my profits as of now! Stop loss is now at TP 1. This is a 0 risk trade now! Cheers to those who saw this opportunity.Note
Take Profit 3 was hit! Great trade.
Access Flux Charts' exclusive indicators: FluxCharts.com/?via=tv
Join our FREE Discord for live trading sessions, signals, & trading resources: discord.gg/FluxCharts
Join our FREE Discord for live trading sessions, signals, & trading resources: discord.gg/FluxCharts
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.