Falling Wedge in TSLA

[Steven Place]

Great looking pattern here:

Here’s how I’m going to trade it:

Buy to open TSLA Mar/Apr 260 Call calendar

Here’s the thinkorswim order:

BUY +1 CALENDAR TSLA 100 APR 14/MAR 14 260 CALL @7.00 LMT

Stop 230.

Intent here is to let it run and then just hold the April 260 calls straight up.

[Steven Place]

TSLA hit my stop of 230, ran past it and bounced back up to it.

I’m going to bail here as this pattern has deteriorated. If TSLA starts to reattempt 245 I’ll be interested in a long again.

[Author]

Posts