The damage of the FOMC and Jerome Powell’s announcement has been done and it sent the market crashing with some of the major indexes falling over 1% from the day’s highs. However, this doesn’t mean there aren’t any trade setups we should be looking for.
Just the opposite. This may have just triggered another trend days following the announcement. Our trade setup today is on a stock we have talked about in the recent past and one that can really make some large moves when a trend is in place.
However, when trading options on Tesla (TSLA), you need to be careful. Trading TSLA is most definitely not for the faint of heart. If the break of the pattern I highlight in my video confirms, we could see 240 in the not so distant future. Be sure to keep this trade on watch as we wrap up this week
If you like The Profit Machine (TPM), then you will really like my Wednesday Profit Room trading service. Same high-quality options action, as well as more world-class trading education. As I say, the more screen time and education you expose yourself to, the better. Give it a try for one month here and if you don’t find even more value, cancel anytime. Your success as a trader is on the other side of hard work and education, will you be willing to put in the work with me as your guide? Give it a try today!
Good Luck With Your Trading!
Christian Tharp, CMT
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