Now that I'm trading more actively, I am very tempted to get out of my long position in Tesla and free some capital... So I decided to draw in my lines and see what they told me.
After doing so... I don't see how its possible to get out of this stock. My gut told me to sell when it had been simmering at the top supply area for so many weeks... and I did not. Bad, Eric. Now my gut is saying to stick it out, so I am looking for reasons to make my gut right. I see a nice upward channel that is being respected. Could be a dirty trick in the makings, but I think it's a good idea to make the market prove you wrong. Sure the market is a dirty trickster sometimes, but most the time it's just a lot of people trying to play by rules that no one can agree on. I think we can all see a trendline, however, so let's not make this difficult folks... Tesla has been an easy stock, I don't see why that money would go elsewhere, however, anyone can be made into a diamond handed fool.
This is why I like the futures markets... being liquid is so much easier sometimes. In and out like a bandit.
After doing so... I don't see how its possible to get out of this stock. My gut told me to sell when it had been simmering at the top supply area for so many weeks... and I did not. Bad, Eric. Now my gut is saying to stick it out, so I am looking for reasons to make my gut right. I see a nice upward channel that is being respected. Could be a dirty trick in the makings, but I think it's a good idea to make the market prove you wrong. Sure the market is a dirty trickster sometimes, but most the time it's just a lot of people trying to play by rules that no one can agree on. I think we can all see a trendline, however, so let's not make this difficult folks... Tesla has been an easy stock, I don't see why that money would go elsewhere, however, anyone can be made into a diamond handed fool.
This is why I like the futures markets... being liquid is so much easier sometimes. In and out like a bandit.
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If daily finishes with a red body candle we will have 3 bearish black crows flying into a bullish hammer candle. That translates to nil, which translates to rangebound? Lots of consolidation in markets lately. Tough to see who is making who wait. Not a very useful update... maybe it will be later.
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Hope you all liked that bounce! :P
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Happy profits everyone that held on! I sold in the daily 4 hr supply area, but I know many long term holders are doing even better! Way to go! Encouragement!