$TSLA Wedge Break?

Nov 28, 2023

I have been keeping an eye on TSLA as it keeps putting in higher lows. It looks to me that we have a wedge pattern inside a larger wedge pattern. I have started a ½ size position in anticipation of running up to the larger wedge pattern where I would expect more resistance.

In addition, TSLA is now above all shorter-term moving averages and the rising 40 Week MA in white. A close below the 40 Week MA will be my stop area. Let’s see what happens.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Nov 28, 2023

Note

Have been adding to this through out the day. Seems to be moving on Cyber Truck news. See Chart for adds.

Nov 29, 2023

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We are 10 minutes into the day and already up against the larger wedge downtrend line. I may be taking some profits soon and holding a small position... TBD.

Nov 29, 2023

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15 minutes in and it's jumping all over. took 1/2 off. I'd like to add back. TBD.

Nov 29, 2023

Trade closed manually

I've closed the whole position on Fed Speak going on right now. I have a nice profit and will look for a re-entry when it presents itself.

Nov 29, 2023

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Day trading this now. Back in as MACD crosses up on 5 min.

Nov 29, 2023

Note

TSLA I have raised my stop to breakeven on this day trade. Hard stop in computer, no need to watch now.

Nov 29, 2023

Trade closed: stop reached

TSLA The stop was hit awhile ago when I was away from my screen. I'm out of this for breakeven on the day trade.

Nov 30, 2023

Trade active

Started a new long position on reversal. I love trading this stock!

Nov 30, 2023

Note

Raising stop to breakeven and I will continue to raise my stop as price moves higher, if price allows. Nice to have a no risk trade right now.

Nov 30, 2023

Trade closed: stop reached

I had a hard stop in the computer and it just hit. Out for no gain no loss. Choppy day. Back on the watchlist. If / when I trade TSLA again I will make post it as a new idea.