What a move of $TSLA. It really sold off. I had it on watch during premarket as it looked really good for an out of the open short, but lost track of it as we got closer to the open. Guess I was too focused on BABA and FAST.
However, I watched TSLA the whole time and had 252 and 249.50 support levels on watch for a bounce.
As we got closer and even broke 252 I wanted to initiate a starter at 250 for it being a significant level and I saw a surge in Volume. Was this a Volume Bottom already? I wanted to give it a fair short. Just to add to it at lower prices as I was certain we would bounce for a relief move at some point after such a move. VWAP was far up at 255.
TSLA bounced a bit, but was still weak and sold off further. Once it broke 250 $TSLA really spiked down on even more volume. This was when I palce an order after the reject of 248.
I took a partial for 2$ and placed a limit just above 248. $TSLA hesitated here and I was worried we would fade even further. It took a moment until TSLA started to move higher again and my profit was a bit early.
I really thought we would retest 248 again, but eventually we continued higher.
My final target was VWAP and that 252 Pivot. My exits were a little too early, but the market overall was very weak. Good Trade nonetheless.
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