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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: bull_dozer who wrote (84183)2/10/2024 5:58:45 PM
From: Sun Tzu1 Recommendation

Recommended By
ajtj99

   of 96624
 
Only if the bear doesn't know how to trade. The market could do anything at any time. It is a matter of risk management and timing.

As of Friday's close, TSLA is bullish on all intraday charts and bearish on daily and all longer timeframes.

So what does this mean for a TSLA bear?

Entry is at one of two conditions:

#1 While the daily is bearish, wait for a meaningful intraday bearish pattern/entry (typically no less than 30 minutes, but preferably a 2hr+ bar). Then short the stock with a tight stop.

#2 Wait for the TSLA to go to the edge of breaching the daily bearish pattern and then short on any drop below that point or short intraday bearish pattern (even a 5 minute one), again with a tight stop.

Entering in this manner and placing the stops tightly ensures that the loss is less than 1% at every entry while the payoff is 10%+.

Should TSLA breach the gaps to say 213 or whatever and display bullish daily patterns, stay away until the short squeeze subsides and pay attention to the flows.

As I kept trying to tell Lee, it's not about how often you are right or wrong; it's how much you lose when you are wrong and how much you win when you are right.

Below is a very mechanical algo trade that I had setup for TSLA.

PS My actual trading setup does not exactly follow this and has the daily bearish signal ending just north of 199. So even if it goes above this one (195) it is still bearish on my daily read. I just haven't gotten to programming it fully.
.

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