Shared by
JRockTrades
Tags:
Big Picture
Tesla has been in a longterm downtrend since the market has changed and inflation concerns have become more prevalent. It's reaction to earnings has been quite extreme to the downside. I was looking for a bounce opportunity from the most important technical levels.
Technical Setup
Tesla was selling hard into the 800 level. I was looking to play a bounce.
Trade Management
I put bids ahead of 800 in case price didn't quite reach that level before it bounced. That got stopped out but I reestablished as the 795 level reversed. I scalped a quick trade before again reestablishing and taking profits into the HOD.
Conclusions
Even though Tesla has been in a longterm downtrend, it has presented excellent long opportunities off the most important levels. This trade worked extremely well and is one I'd take again.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2022-01-28 09:47:08 | TSLA | 10 | $800.470 | 10 |
| 2022-01-28 09:47:14 | TSLA | -1 | $798.270 | 9 |
| 2022-01-28 09:47:14 | TSLA | -9 | $798.250 | 0 |
| 2022-01-28 09:48:07 | TSLA | 10 | $795.010 | 10 |
| 2022-01-28 09:48:42 | TSLA | -5 | $799.190 | 5 |
| 2022-01-28 09:50:14 | TSLA | -5 | $797.965 | 0 |
| 2022-01-28 09:51:30 | TSLA | 5 | $805.920 | 5 |
| 2022-01-28 09:53:37 | TSLA | -2 | $809.000 | 3 |
| 2022-01-28 09:53:59 | TSLA | -3 | $806.188 | 0 |
| 2022-01-28 10:03:28 | TSLA | 10 | $801.650 | 10 |
| 2022-01-28 10:03:47 | TSLA | -5 | $806.350 | 5 |
| 2022-01-28 10:05:24 | TSLA | -2 | $810.230 | 3 |
| 2022-01-28 10:09:54 | TSLA | 3 | $816.228 | 6 |
| 2022-01-28 10:10:19 | TSLA | -1 | $819.130 | 5 |
| 2022-01-28 10:11:04 | TSLA | -2 | $818.060 | 3 |
| 2022-01-28 10:16:13 | TSLA | -1 | $824.134 | 2 |
| 2022-01-28 10:19:36 | TSLA | -1 | $837.720 | 1 |
| 2022-01-28 10:23:03 | TSLA | -1 | $834.363 | 0 |
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