Inverse Cup and Handle on TSLA

Jan 5, 2022

A strong inverse Cup and Handle setup has formed on TSLA over the past two days so it's looking like TSLA might be in for a larger short-term retracement before reaching new ATHs.

POTENTIAL SHORT SETUP

• If the $1135 support line is broken, we could see a retracement of up to 6.5% - calculated from measuring the height of the cup.
  
• Stop loss placed at the top of the handle.
  
• This would also be filling the large gap created during Monday pre-market.
  

Purely educational and not financial advice.

Jan 5, 2022

Note

The support line was broken earlier today - I entered the trade and am starting to scale out and take profits starting at $1080.

I hope some of ya'll got in on this! :D

Jan 6, 2022

Note

Target hit and position closed out earlier today ^.^

Jan 26, 2022

Note

This aged well, hitting both TP1 of 1060 and TP2 of $990 - I hope ya'll were able to get in on this trade! :)