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$TSLA Consolidating in a VCP (Volatility Contraction Pattern)

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I traded last week when it broke out of that inner wedge pattern. It went quickly and then pulled back. I made a good profit on a 2-day trade. A link is below for last week’s idea on the trade.

It looks to me that Tesla is finding some support in the low $230’s area. I have an alert set just over today’s high. If it triggers and the market are doing well, I will drop to a lower timeframe it looks for a good risk reward entry. All TBD.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

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I have gone long at 1/3 size as it triggered over yesterday's high. My stop is just below todays low.

註釋

Added to @ 245.31 stop this batch LOD. Now 1/2 size position.

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Well that add did not work Stopped on this batch. Still 1/3 sized.

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I closed this trade out on further weakness. Pattern starting to look bearish to me. I took a small 3.8% loss. Back on the watchlist. Maybe after the FED speaks it will turn around? TBD.

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I have built a new position in over the last few trading days. I added again this morning. This is now my biggest and only full position trade. Let's see how this one plays out.

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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