TSLA Trade on Jan 14, 2022 10:03 from JRockTrades: Tradervue User Stock Trades.

Big Picture

TSLA has been ranging widely recently as it has had excellent results as a company but growth overall has been punished. Their recent delivery numbers beat all expectations, but was trading less today than before those numbers were announced maybe 10 days ago. I am personally a bull, but do not have a position outside of interday trades.

Technical Analysis

I had no bias on the day as to what direction TSLA should have been trading, but trading the price action as I saw it. On this day it touched below 1000 in the pre-market, but opened strong. The pattern of flagging before retracing to VWAP was very familiar. I took a small position at VWAP risking $2.50, which nearly did get stopped out.

Trade Management

As TSLA moved higher I took risk off in the 1029 area, and then further profits all the way up to $1046. I trailed a stop behind the price and it hit my final shares out on the trail side at 1041.

Conclusions

This was a very familiar setup and one I take often. I had already used basically all my risk on the day and so I had to take a small position. I was able to make about 5 to 1 reward to risk, which is better than average. This is a setup I understand well, has a pretty clear exit, and is one that worked well today.