TESLA ($TSLA) Trade Recap 1/3
Going into the new year, and the new trading week I was looking for a great setup for the year to get started. I was watching TSLA off the open, and it soon rallied into a supply zone originated from price action on November 22nd. As soon as it reached this level I was waiting for an entry, sellers stepped in and I went short as soon as I started to see some rejection. My price target was VWAP (orange line) and my stop loss was above the highs. It ended up going right to VWAP and bouncing almost instantly. I was able to get in and out within 3 minutes to secure 17%.
I have been trying to focus on taking quality setups as opposed to lots of “okay” setups. Going into trades with a clear entry/exit and pre determined levels has kept the guess work out of trading.
Overall, I am happy with this trade and executions.