TSLA Update - What went wrong and why we can still be bullish
Thank you to my followers for holding me accountable for a lapse in discipline - I identified a trade opportunity that had conditions - and some of those conditions were for us to taper along our tapered selling purple toward yellow and to see a yellow pickup. Clearly we didn't taper toward yellow and I jumped into a position on the touch of yellow. From the start there was signs against it as we had no tapering and the reaction to yellow was not what we should expect from a true strong bullish algorithm. When I had the chance to get out on a pullback and retest of that same yellow, I did, albeit for a loss on that trade.
Keep in mind, we are most recently respecting orange (more tapered) buying continuation. We can very easily get picked up here as we did a few weeks ago and make a strong ensuing move. However, the conditions need to be met where we find price tapering and building liquidity in our purple and green controlled selling algorithms prior to getting picked up by orange and activating yellow.
We will see what happens - but as always, prepare your trade as best as possible so that no matter what happens, you know when you're getting in and when you're getting out.
I can do better and I will do better - Let's all be better this week! At the end of the day, we are nothing without our discipline so that must stay top of mind when trading.
Happy Trading :)
Keep in mind, we are most recently respecting orange (more tapered) buying continuation. We can very easily get picked up here as we did a few weeks ago and make a strong ensuing move. However, the conditions need to be met where we find price tapering and building liquidity in our purple and green controlled selling algorithms prior to getting picked up by orange and activating yellow.
We will see what happens - but as always, prepare your trade as best as possible so that no matter what happens, you know when you're getting in and when you're getting out.
I can do better and I will do better - Let's all be better this week! At the end of the day, we are nothing without our discipline so that must stay top of mind when trading.
Happy Trading :)
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