TSLA Analysis is based on simplified SMC concepts. There was a significant impulsive move above $217.65 (noted by the "W-BoS" or Break of Structure). Price action has been steadily pulling back into this prior demand area ($152.37-$217.65). Current price is in a significant discount zone and I anticipate price to impulsively move out of this area in the coming weeks. Plan on holding this trade idea for a few months. ~7 months
Reward to Risk ratios could vary between 5:1 up to 28:1 depending on the instrument you are trading.
If you are trading stock CFDs :
4 positions at $195.71 would be ideal
Exits:
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21
If you are trading stock options:
Sep 20th Expiration - Buy out of money Calls between $260-$300
ideally 4 positions
Exits:
(STRIKE price)
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21
If you are buying the underlying instrument (TSLA):
4 positions at $195.71 would be ideal
Exits:
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.