Hello,
This is my trading plan for the start of next week. If this was a normal week, without much economic news, I would be much more confident about what will happen, but remember, this week is the Fed meeting and that can change a lot. On the other hand, after the close on Friday, a price hike on the Model Y in US and EU was also announced, which I believe will lead to a sharp price increase on Monday. In this case, because of the Fed, it may not be so sharp because of that, I will do the following:
1) Immediately after the opening of the early trade, I will buy and replenish the positions I have already bought.
2) The Figure shows the potential areas where, in my opinion, profit can be taken (areas in green). Because I already have accumulated positions I will probably sell at the bottom of zone one, around $168.8-$169.2 Depending on the price action, however, I may increase to the bottom of the resistance around $170.2. I hope this all happens on Monday.
2) On Tuesday I will move to close positions at the second level that I have set for profit. After that I'll be watching the Fed because while most people are convinced there won't be a rate change because of the latest inflation data, I'm not so convinced...
This is my trading plan for the start of next week. If this was a normal week, without much economic news, I would be much more confident about what will happen, but remember, this week is the Fed meeting and that can change a lot. On the other hand, after the close on Friday, a price hike on the Model Y in US and EU was also announced, which I believe will lead to a sharp price increase on Monday. In this case, because of the Fed, it may not be so sharp because of that, I will do the following:
1) Immediately after the opening of the early trade, I will buy and replenish the positions I have already bought.
2) The Figure shows the potential areas where, in my opinion, profit can be taken (areas in green). Because I already have accumulated positions I will probably sell at the bottom of zone one, around $168.8-$169.2 Depending on the price action, however, I may increase to the bottom of the resistance around $170.2. I hope this all happens on Monday.
2) On Tuesday I will move to close positions at the second level that I have set for profit. After that I'll be watching the Fed because while most people are convinced there won't be a rate change because of the latest inflation data, I'm not so convinced...
Trade closed: target reached:
How about that?) I hope that I was helpful. I did not wait for profit 2 because have bad memories from FED...but I believe indeed that tomorrow we will reach it. Good luck!
