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Today we look at MOMO on the 2 minute chart. We start by looking at the open of the market that day. The logical alert would reference the fact that the chart is pulling back into key chart real estate. 90% of the members view this as a long trade opportunity. After setting up our entry levels, stop loss and target, we scroll the chart forward. Our initial trade plans are pretty much blown out of the water and that’s exactly why we keep our losers small. Clay plays out the scenario if you had held and to sum it up, you’d experience lots and lots of pain. Pulling out the fibonacci retracement tool, we actually see that the chart bounced right to the 38.2 level.
We then do top down analysis for TSLA