$TSLA Trade Plan

$TSLA has consistently respected the 179.5 Level (see image). At Points 1 and 3, we have bounced, and at Points 5 and 7, we have rejected. Points 2, 4, and 6 all enforce the significance of this level; it does not invalidate it. At Point 2, we have a Fake Breakdown, at Point 4 we hesitate before the true Breakdown, and at Point 6, we have a Fake Breakout.

No surprise here with my favorite buzz word (<3) but we have two themes present. At Points A, C, E, and G, we have failed pushes, and at Points B, D, and F we have swipes of lows.

Trade Plan

1) In a perfect world, we would have a 179.5 failed push/reclaim, and true Breakout with 187.5ish as Profit Target

2) 179.5 Breakout on volume (keep in mind the failed push theme) same Profit Target as above

3) Failed swipe of lows = longing a put with 170ish Profit Target

4) 175 Breakdown with 165ish Profit Target (keep in mind the swipe of lows theme)

Risks

1) $TSLA typically does not feed off of $SPY flows, but this does not mean it won't. A bullish play may form, the $SPY may be bearish and affect $TSLA's strength (opposite is true too)

2) $TSLA has frequent After-Hours/Pre-Market news that causes it to gap; if you hold longer than intraday, this risk is imperative

3) $TSLA is still positive on missed earnings, but this is why I trade technicals rather than fundamentals

TSLA Key Level