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Hey I bought Tesla the other day.
reason for:
- Consecutive wedge on a long bull trend (wedge bear flag)
- second reversal (first being Jan 24 bull bar)
- small bull bar from (very) long term trendline and a decent follow-through
cons:
-still part of the tight bear channel
- high of six overlapping days of the tight trading range
- very small bull reversal compared to the size of the bear channel since November
Do you guys have any thoughts?
Do you understand why I bought it? Was it a good (ish) decision?
Thanks.
If it's stock then it's should be ok. If they are call options then may be not a good idea. It depends on how much you spend though
Can't really tell you if it was a good decision. I assume you're talking about the nested wedge on the daily chart?
As you said, market was still in a bear channel and I think your first profit target was test of the top of that channel?
yess. In the daily chart.
Since price tested lower through trend line, while in a bear channel, to me price could be in a trading range in which take profits quick
