TSLA Trade on Feb 1, 2023 09:55 from JRockTrades: Tradervue User Stock Trades.

TSLA has been in a major uptrend, though we have seen down days, such as 2 days ago when the short really worked. On this day it had an opening drive that took it to just below 175, before selling down into the 171 area. It had a wide consolidation, which resolved violently to the upside and price came back into the HOD area very quickly. It definitely was possible it would consolidate around this level and have a break higher, but I felt it more likely to have a retracement after the strong move it just made.

I took one lot short from just below 175, then took another from 175.60. This was really risky, but I was essentially betting the money I had made trading Tesle earlier that I'd be right. I took one lot back off at the whole number of 175 to get back to a single lot and give myself a more graceful exit if the trade stopped out completely. I thought maybe we could get back down into the 172 range, near the LOD, if the trade would work.

That did play out and I took off risk in 10% or less increments until we were just below 172, at my final targets. I only had a small position left and closed it when priced popped over 172.50. This trade could have gone the other way and I'd have probably taken a $100 loss, making this a little questionable from the risk to reward perspective, but I had fairly high confidence in the trade and had a cushion from earlier TSLA trades, so it wasn't the worst idea I've had.