Just one trade to post today, because I’m in a hurry and because it’s a good’un. Here’s Tesla (again):
The start of the session, at first glance, looked anything but promising, with the price whipping back and forth over the MA. But what’s that I see? A triangle. A sign something could happen.
There was a half-hearted attempt to break out of the pattern around 11am, but it failed and turned into a consolidation pattern.
Then the real move came, and on escalating volume. With some momentum to ride, it was time to jump in.
I almost came out on the blue line, but the price was weak and made very little effort at recovery, so I adjusted my target and kept going a bit further.
This ended up being quite a long trade (in time terms, not direction) for me, especially for TSLA, a stock that I tend to jump in and out of quickly. In all it was about 25 minutes. It netted $2,320 profit though, so the effort was well worthwhile.