TSLA Trade on Jun 16, 2021 11:14 from JRockTrades: Tradervue User Stock Trades.

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Capitulation OGT

TSLA has been in a longterm downtrend with sellers in control. Any long trades have to be at high risk to reward spots because it is less likely they will work until the downtrend shifts.

I had bids in at 593, which was the pre-market low. It initially looked like it might get there, but didn't quite make it. On the 1-minute TSLA had a mini-capitulation move followed by a big reversal bar. I bought at not the best spot, but I thought the trade was going to work a lot more quickly. Price had not yet moved an ATR, which was a check against me, but it did look like capitulation and the reversal bar was swift. Went with extremely small size because I was close to my daily stop and I didn't want to exceed it. My initial stop was below the low, but I eventually moved it up to the bottom of the consolidation. Finally the trade worked and I pieced out my shares into 599. Final sale was because I needed to be done for the day and I boxed the price with a tight OCO and it hit on the trailing side.


Execution detail:

Date/time Symbol Qty Price Position
2021-06-16 11:14:12 TSLA 10 $595.060 10
2021-06-16 11:41:16 TSLA -3 $597.160 7
2021-06-16 11:42:15 TSLA -1 $597.690 6
2021-06-16 11:42:16 TSLA -1 $597.690 5
2021-06-16 11:42:17 TSLA -1 $597.690 4
2021-06-16 11:44:30 TSLA -1 $597.950 3
2021-06-16 11:46:51 TSLA -1 $598.960 2
2021-06-16 11:52:10 TSLA -1 $599.150 1
2021-06-16 11:56:27 TSLA -1 $597.980 0


Comments

2021-06-17 04:22:58
 

Not bad trades, the 595, always been key support for me, I trade the opposite directions, 595 been the spot I cover.

2021-06-17 21:13:32
 

I'm on Thinkorswim and TSLA is hard to borrow, which really changes how I have to trade it. Hopefully soon I can switch platforms and have more names available to short.

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