Last week, Allison reviewed a setup on TSLA on the Simpler Trading Youtube and her Twitter that has since followed through. Allison took the TSLA setup in her Profit Recycling mastery and worst case scenario locked in a 113% return on risk on the trade. She left a runner on to hold through the Fed into the end of the week.
We’ll show the setup Allison discussed on December 5th and where TSLA has traded since.
On December 12th, Allison posted a tweet noting…
“TSLA has been holding $200 as a price resistance level. If we break 10 SMA, could be a similar setup to November for a Bearish move into lows if not new lows. If it cannot break 10 SMA then CHOP is still the name of the game.”
Review the free video below to see a breakdown of TSLA setting up.
“TSLA is looking weak and very similar to what happened in early November. In the video below, I discuss the chart and walk through two different trade ideas to consider.”
In the Profit Recycling Mastery, Allison locked in a minimum profit of 113% return on risk. She still has a runner on in case the Fed and Powell decide to send the market lower.
Key Takeaway: Taking wins prior to big news events is never a bad idea due to the uncertainty of what kind of move can happen off the news.
May the Trade Be With You,
Director of Risk Tolerance at Simpler Trading