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$TSLA (Tesla) Trade Recap 2/18

+$610 (200%)

Tesla is always one of the stocks I watch everyday, I was really interested to see how it would react to the $873 level. Off of the open there was a quick washout, the price began to rally but it was unable to make a new high. As I saw it making a lower high I went short, I got the 850p. My target was $850 which was also another key level I had marked on my chart, which is why it is so important to have levels of interested marked and take watch how price reacts to these levels. I was comfortable throughout this trade, my stop loss was above my candle entry, I didn’t want to push it on a 0 days to expiration contract, which is why I try to go light on these days and go for higher % gains.  There have been a lot of news headlines coming out, there were a lot of articles coming out about explosions in Ukraine which lead to stocks going lower and lower throughout the day. Around 8am, there was big flush candle with the second most volume of the day, price began to bounce from there then I exited my position. Looking back I could’ve seen how price reacted to the $850 level again, it showed weakness and sellers were there and eventually went back down to $840. Overall this trade was great and I followed my plan and didn’t panic at any point.