Afraid of a pullback? Here's some strategies you can use!
Hello traders and investors! Let’s see what’s going on here on Tesla! Some of you own the stock, and you have the right of feeling anxious about it. But, with a solid plan, there’s nothing to worry! Here I’ll present you some strategies you can use right now on Tesla.
First, look at the hourly chart above. The trend is clearly bullish. Right now, the price is just about to find its support at the 21 ema, which is going up, by the way.
The sideways movement I evidenced in the blue rectangle has low volume, which is typical of an accumulation. Almost looks like a Flag pattern. So, there’s absolutely nothing to worry around here.
But, what could you do? Well, if you are still afraid, you could book your profits if you see a bearish pivot in the hourly chart. This would be an indicator of a further pullback.
But again, just a pullback, I’m not saying the trend is going to change. Pullbacks are just opportunities to buy or buy more/again.
There’s another strategy you can use, and it is better seen from the daily chart:
It is normal for Tesla to do some erratic movements after a bullish leg, so, if you plan to hold it for a while, this shouldn’t scare you at all. The trend is bullish, and pullbacks are natural movements. Don’t sell in panic your stocks to a smart portfolio manager who wants to increase his position paying a cheaper price for a good stock.
But, if you are planning on booking you profits, just look at this green line (previous top). If Tesla closes under it, just book all your profits. Because it will tell you that the stock is struggling, and it failed in doing a new top.
Then you can just buy it again when it gets closer to the 21 ema (or any other support, in any other time frame) after an interesting bullish candlestick/chart pattern. At this point, there’ll be some people panic selling it for sure, and you’ll be there, ready to buy it.
You can use these strategies to manage you position and I’m sure they will help you to manage your anxiety level. You could even mix them, and book half profits when you see a bearish pivot in the hourly chart, and the other half if Tesla loses the green line in the daily chart. That’s up to you.
And, please, support this idea if it helped you! Also, I invite to follow me for more analyses.
Meanwhile, there’re no clear targets for Tesla, since it is a bull trend doing new highs. My trading methodology is just reactive, not predictive, so, let’s just react properly to the market’s signs.
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
First, look at the hourly chart above. The trend is clearly bullish. Right now, the price is just about to find its support at the 21 ema, which is going up, by the way.
The sideways movement I evidenced in the blue rectangle has low volume, which is typical of an accumulation. Almost looks like a Flag pattern. So, there’s absolutely nothing to worry around here.
But, what could you do? Well, if you are still afraid, you could book your profits if you see a bearish pivot in the hourly chart. This would be an indicator of a further pullback.
But again, just a pullback, I’m not saying the trend is going to change. Pullbacks are just opportunities to buy or buy more/again.
There’s another strategy you can use, and it is better seen from the daily chart:
It is normal for Tesla to do some erratic movements after a bullish leg, so, if you plan to hold it for a while, this shouldn’t scare you at all. The trend is bullish, and pullbacks are natural movements. Don’t sell in panic your stocks to a smart portfolio manager who wants to increase his position paying a cheaper price for a good stock.
But, if you are planning on booking you profits, just look at this green line (previous top). If Tesla closes under it, just book all your profits. Because it will tell you that the stock is struggling, and it failed in doing a new top.
Then you can just buy it again when it gets closer to the 21 ema (or any other support, in any other time frame) after an interesting bullish candlestick/chart pattern. At this point, there’ll be some people panic selling it for sure, and you’ll be there, ready to buy it.
You can use these strategies to manage you position and I’m sure they will help you to manage your anxiety level. You could even mix them, and book half profits when you see a bearish pivot in the hourly chart, and the other half if Tesla loses the green line in the daily chart. That’s up to you.
And, please, support this idea if it helped you! Also, I invite to follow me for more analyses.
Meanwhile, there’re no clear targets for Tesla, since it is a bull trend doing new highs. My trading methodology is just reactive, not predictive, so, let’s just react properly to the market’s signs.
Recent public trades (links below):
XP: +30%
AAPL: +10%
LB: +45%
UKOIL: +62%
Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate!
BECOME A MEMBER!
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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