Late December we noticed that the ascending triangle on $TSLA was starting to squeeze smaller and smaller so that gave us the signal that it is about to break out soon. Price had been ranging from $395 - $470s we have had a pretty clear support and resistance. The instant it breaks out and we have confirmation that it is a valid break out that is when we hop in. There is 2 ways we take this we can either go for a short term scalp (usually we would signal this out to our smaller accounts who are trying to raise capital) with cheaper contracts or we can open a long position about 1 month out. As you can see this set up played out and for those who held made substantial amount of gains and the ones who took the scalp also made a couple hundred.
