Today, we will speak about the current structure we can see on TSLA.
-Corrective Patterns tell us about the accumulation and distribution process. That creates sideways movements which form this Zig-Zag / Triangles / Irregular patterns
-Breakout trading is about waiting for the breakout of a formation. We consider that the accumulation and distribution process is finished when a candlestick breaks above a key level (like the entry zones we have). Once that happens, we set our stop loss below the previous structure, which represents a demand level
-The idea with this type of setup is to look for Risk/Reward ratios above 1.5
-In general terms, we can say that the Win rate of this type of structures is about 50% / Remember that the key here is the risk-reward ratio
-Conclusion: This is a setup we will take, using 1% of the capital (RISK MANAGEMENT IS KEY). Entry / Stop / Take Profit are the ones you see in the chart. We will use the first fibo extension for break-even
Thanks for reading!
-Corrective Patterns tell us about the accumulation and distribution process. That creates sideways movements which form this Zig-Zag / Triangles / Irregular patterns
-Breakout trading is about waiting for the breakout of a formation. We consider that the accumulation and distribution process is finished when a candlestick breaks above a key level (like the entry zones we have). Once that happens, we set our stop loss below the previous structure, which represents a demand level
-The idea with this type of setup is to look for Risk/Reward ratios above 1.5
-In general terms, we can say that the Win rate of this type of structures is about 50% / Remember that the key here is the risk-reward ratio
-Conclusion: This is a setup we will take, using 1% of the capital (RISK MANAGEMENT IS KEY). Entry / Stop / Take Profit are the ones you see in the chart. We will use the first fibo extension for break-even
Thanks for reading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.