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TSLA: That's what TRAILING STOPS are for.Hello traders and investors! I had to skip our daily studies yesterday, but now I’m back to see what’s going on with Tesla. It seems we have reasons to worry after all, but what should we do next? There are some important things to keep in mind. If you read my previous Tesla analysis, from 2 days ago, you’ll see that today’s movement is not surprising at all (link below). First, Tesla engaged in a short-term bear market, at least in the hourly chart. Yesterday it lost the purple trendline , which was our guide in the short-term and it was the line that separates the bull’s territory from the bear’s territory. Also, it lost the red line $ 437, which was another important point for Tesla. Right now, it just filled the Breakaway Gap in the hourly chart, which works as a support now. This is what an asset does after it loses strength and starts to lose its supports: It will seek for more supports. Simple technical analysis. Now, let’s see the daily chart: If you've followed the trailing stop strategy I’ve been detailing here, you would’ve sold Tesla when it triggered this Dark Cloud Cover pattern and avoided an uncomfortable pullback. The good news is this is just a pullback, as long it keeps above the 21 ema. Speaking of 21 ema, it seems Tesla is going to hit it, as we discussed in my previous analysis. It will offer a support for the price. I set the target at the 21 ema 2 days ago, but I think the purple line at $ 359 is a more relevant support, if we see a sharper pullback. The bias is still bullish on Tesla, and although it gave us a lot of signs to get out of it, it still could trigger another long trade, if we see a good reaction near one of its supports, like the 21 ema or the purple line. But right now, there’s nothing to do on Tesla, and we just need to wait. Other opportunities will come for sure. And if you liked this idea, please, support it! And I invite you to follow me to keep in touch with my analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
15
Fastly: Mind the Gap in High-Flying Tech StockFastly had one of the sharpest rallies in big tech stocks, ripping about 400 percent between early May and early August. But the price action has turned bearish in the last month. FSLY posted strong quarterly results on August 5, but investors “sold the news.” Management added fuel to the fire by revealing a large dependence on TikTok, the Chinese social-media company that’s become a hot potato between Washington and Beijing. The drop produced a bearish gap that FSLY tested last week but wasn’t able to fill. The resulting lower high is within 3 percent of an earlier peak on July 9. That creates a potential bearish head and shoulders pattern. Finally, FSLY’s lower high last month contrasts with the broader Nasdaq-100 and Technology sector, which both made new highs yesterday. (Lack of relative strength.) All those patterns suggest the tide may be turning against FSLY.
NYSE:FSLYShort
by TradeStation
1
Backtesting guide: Iterative steps. Gap fills example.1- Notice something, or read about it (patterns, rsi), and just go look. Lazy people will lose their money to those that put the hours in. Some efforts are actually required at some point. No avoiding the grind. No "assisted comfort" instant gratification in real life. 2- Starting backtesting. One has to actually know what works and how it works 3- Stick to it don't deviate or head goes boom Looks good, we are looking at both then * Oil was not as good technically Checking some GBP gaps in 2018. It could depend on the year, type of market, etc. Backtesting a different ticker it's fine have first step is just to gather info. Ok that's enough. You would need to go throught in my opinion at least a good 50 examples, we did 20 here, and then you would start deciding on some possible direction you want to go to (where to enter, set SL, what TGT), then go onto the next step, excel. 4- Set some at least vague rules and put these numbers in excel "With a RR of 1 tgt from open to close(-1)" => x% winrate "Opposite direction entering at close-1 with SL the gap*2 and tgt 2:1 (just making it up here)" => y% wr Is there to start with a profit factor of at least above C (maybe 1.2? your call)? Other stats: how far does it go against/with, then through more analysis "what was the trend", "did it fill half before filling me", etc think outside the box. etc.... 5- Improve/more backtest As you take trades or just keep backtesting you try to tweak it to get more out of it. As they say "do not try to make it too perfect". Overoptimising = cheating = losing. 6- Practice You have to actually participate in the market for real at some point and live through it all. Don't forget to log everything, and review your past operations. 7- Realize you're just accumulating knowledge and you are going to go discretionary anyway and then it's all about your own skill So get good.
Education
by MrRenev
2
TSLA bearish? - Stock market shows weakness!Hey there, like the post please and follow me here on TV, it really helps me out! All details are explained on the chart, so please take a closer look. I won't get into detail here. Very important will be the gaps drawn on the chart in my opinion. Most likely to be filled once TSLA breaks support! The line in the sand is $1000 which will very likely hold with ease. This scenario is only likely if the stock market as a whole shows weakness over the next few days and weeks. Tesla will of course neglect my technicals, if SPY and DJI show strength. There is the possibility to take a short now, since price is being rejected of the descending trendline on the top. You could also wait for another retest of the bottom support line, a break and a short on the retest of the trendline. Thank you and all the best. Cheers, Konrad
NASDAQ:TSLAShort
by EnlightenedTrading