TSLA
Analysis is based on simplified SMC concepts. There was a significant impulsive move above $217.65 (noted by the "W-BoS" or Break of Structure). Price action has been steadily pulling back into this prior demand area ($152.37-$217.65). Current price is in a significant discount zone and I anticipate price to impulsively move out of this area in the coming weeks. Plan on holding this trade idea for a few months. ~7 months
Reward to Risk ratios could vary between 5:1 up to 28:1 depending on the instrument you are trading.
If you are trading stock CFDs :
4 positions at $195.71 would be ideal
Exits:
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21
If you are trading stock options:
Sep 20th Expiration - Buy out of money Calls between $260-$300
ideally 4 positions
Exits:
(STRIKE price)
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21
If you are buying the underlying instrument (TSLA):
4 positions at $195.71 would be ideal
Exits:
1st = 299.29
2nd = $338.96
3rd = $390.38
4th = $446.21