TSLA Intraday Upward Price Action, Market Up, Low Volume on Mon, Jan 8, 2024

Backdrop

Up day for the market. Lower volume. Articles trying to paint Elon as a drug addict.

Daily Chart

Even though range was below ATR, it was a definite green candle on the daily.

3-Minute Chart

Early ranging, but price only broke upward, and never went below night range. Big green candle in the first 2 hours (1.5 hrs into the day) was the day direction. No direction change. Higher lows all day. No 50/200 moving average crosses.

Strategy

All day long after the big green candle around 8AM, then add on the upwards breaks. No good reason to exit with all the higher lows.

Happy trading.

(This post is for entertainment purposes and is not investment advice. You can lose money in the stock market.)