Top 5 Weekly Trade Ideas #3 - TSLA Major Trend Retest

14 באוק׳

TSLA had a huge run up after finally breaking above its downtrend it has been in since 2021 heading into a big event. The event ended up being a sell the news event and TSLA erased most of that rally instantly.

However, it is holding up above the trendline after a near perfect retest. If it can hold I'd be targeting the trendline above and then ATH. If it breaks below this trendline here I would avoid longs and potentially look for shorts. Pretty critical spot here for the medium-long term. Very bearish if it can't hold IMO and very bullish if it does hold and continue the rally after a brief pause.

25 באוק׳

עסקה סגורה: היעד הושג

What a rocket, can't say I expected it rally all the way to my target so quickly. Great example of how patience can really pay off. TSLA has been dancing around and has been volatile, but if you wait for major areas you will succeed. It wasn't a great idea to chase that triangle breakout and hold through the robotaxi event, although it could have easily kept going, it's much better to wait for things to cool off after a move a big move leading into an event like that.

It's at resistance now so it's time to close the long trade IMO, even if it does keep going next week. There will be another chance to long if so.