PT 245 - 250. H/S pattern. Buyers weakening on TSLA. Lazy pump.

2023年10月6日

The H/S pattern is a clear indication that buyers are weakening. If you see the day's price action you'll see that we couldn't even reclaim 262 or close at a weekly high.

Today, there was bad news and pumped $10 from the bottom. Yes we played calls here today (and a failed $40 lotto put), but that doesn't mean this price action is sustainable.

Anyway, "fundamentals" aside, let's look at some price action:

• Buyers pushed the price up from blue TL.
  
• Failed to make a new high. Forming a left shoulder.
  
• Buyers went a little higher this time, but failed again.
  
• Back down to blue TL. I alerted calls here and shares. Paid nicely!
  
• Now, this week, buyers failed to reclaim 262 resistance and enjoyed a fake pump on Friday to close the week.
  
• What happens next is either blue TL dip or white TL dip.
  
• More likely is a white TL dip because that would be 3rd touch on white TL and 4th touch on blue TL. 4th is usually bearish. 3rd is bullish.
  
• I'll buy again on white TL.
  

Hope this is helpful for you. We've been making fire calls all month. Welcome to follow or let me know how this is helping you.

TSLA SPY US100 NAS100

2023年10月9日

註釋

TSLA down 2% premarket. Might close puts @ open. We'll see.

2023年10月9日

交易進行

Sold puts +32%

2023年10月16日

交易進行

PT 250 hit.

2023年10月18日

交易進行

PT hit.



Has a lot more room to fall to trendline. That may be 230 at this point.

2023年10月18日

交易進行

245 hit. LETS GO!

2023年10月19日

交易進行

Final price target was white trendline. Finally hit. I will watch for potential reversal soon.

2023年10月20日

註釋

Chart update. Would potentially watch for a small bounce next week. We'll see.

2023年10月23日

交易進行

Demolished all bearish PTs. Will be watching closely this week for reversal.