Trade idea I'm looking at for $TSLA this week.
Currently in a gap from 857ish to 889ish while simultaneously in a symmetrical(ish) triangle on the hourly.
2 ways to play this. One way a bit more risky than the other.
1. Hop in puts anticipating $TSLA filling the gap on the hourly charts before bouncing to the top of the inside of the triangle. On the sign of a reversal to the top of the triangle hop in calls. If both of these hit, take profit and wait for the break in the triangle to the up or downside for an additional trade.
2. Play it safe and don't anticipating the gap fill and wait for $TSLA to break the triangle to either side.
I will probably do some iteration of the 1st because I like to think I have a high risk tolerance (debatable) and my overall sentiment of the current market. I expect this to play out this week if not the first 2 days of market open this week
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Not financial advice
Currently in a gap from 857ish to 889ish while simultaneously in a symmetrical(ish) triangle on the hourly.
2 ways to play this. One way a bit more risky than the other.
1. Hop in puts anticipating $TSLA filling the gap on the hourly charts before bouncing to the top of the inside of the triangle. On the sign of a reversal to the top of the triangle hop in calls. If both of these hit, take profit and wait for the break in the triangle to the up or downside for an additional trade.
2. Play it safe and don't anticipating the gap fill and wait for $TSLA to break the triangle to either side.
I will probably do some iteration of the 1st because I like to think I have a high risk tolerance (debatable) and my overall sentiment of the current market. I expect this to play out this week if not the first 2 days of market open this week
-
Not financial advice