The Long and Short of TSLA - My plays
- TSLA is a tough counter to trend as it moves big but I still use my tools as best possible
- Area of balance - Broken downwards
- Island reversal gap fill - done
- MA5 (yellow) sloping downwards - closely watching how it reacts coming close to upcoming MA20 (green)
- Gap below at 177 to 173
- Next good support is 173 and 160
- Fibonacci retracement 61.8 is 180
- Area of balance - Broken downwards
- Island reversal gap fill - done
- MA5 (yellow) sloping downwards - closely watching how it reacts coming close to upcoming MA20 (green)
- Gap below at 177 to 173
- Next good support is 173 and 160
- Fibonacci retracement 61.8 is 180
My plays
31 Mar - Big green candle I sold calls (at top of area of balance play)
4 Apr - Bottom of range sold puts (at bottom of balance play)
6 Apr - At fib 61.8, sold puts as seeing the bounce back was good
31 Mar - Big green candle I sold calls (at top of area of balance play)
4 Apr - Bottom of range sold puts (at bottom of balance play)
6 Apr - At fib 61.8, sold puts as seeing the bounce back was good
My watches
190 - Will it go back into range ==> will be more bullish
173 - Breaking below, I will sell more puts
190 - Will it go back into range ==> will be more bullish
173 - Breaking below, I will sell more puts
Good luck, all
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icezzz : If u sell call, is naked call or use spread?
AsphenOP icezzz: I sold covered call as I hv the shares.
but depending on price action, I will sell naked calls on top of it.