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Tesla
Long

$TSLA Range Bound Trade?

By jaxdog
Updated
TSLA I took a trading position in this yesterday at $169.55. The idea was that once I saw price rejection after the low of 167.41, it is a reversal play. There is still a good deal of resistance around that blue horizontal line. My idea or thought is that this has been range bound for some time as such it very well could go to that resistance area around $179 which is about a 5% move from my entry. I plan on selling some into that area and then decide to hold or sale if does or does not climb over that area.

The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Note
TSLA 10 Min Chart showing where and why I took the trade.
(This charting tool is available here on tradingview and is invaluable to me)
snapshot
Note
One more note on this, I have a stop at breakeven since this is simply a trade and not a long term play.
Note
Leveraging this trade this morning using TSLL Very tight stop. In at 8.57 stop set at 8.35. Let's see what happens.
snapshot
Trade closed: stop reached
TSLL got stopped out. Closed TSLA for a very nice profit. Needs to set-up again for me to get back in.
snapshot
Chart PatternsDIAIWMQQQSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis
jaxdog
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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