 Hello, what's going on guys? My name is Mark and if you're familiar with any of my videos or anything like that You know that we sometimes do some trading Now other bits and pieces but I just thought I'd make a quick one here on because everyone's talking about it right Tesla Today I closed this out at twenty nine point three four percent profit, which isn't too Sad, but I just thought I'd talk about why I closed it right so in terms of like the fundamentals of what's going on I'm sure if you look here There's people that'll be able to tell you right about what's going on and Elon Musk privatizing it or taking The shares off right so you at four twenty is the price I keep seeing and that there's a big buyout and that sort of thing But I don't really pay attention to that all that much because The price action tends to I don't know it tends to be pretty consistent, right or depend on the patterns that you look for So Tesla's always if you look on the four-hour chart if you look it's like a super horizontal pattern like obviously sometimes it comes outside of it right like here pushes right up to like 380 which has as a previously and then it's dropped down to like 240 here and and So on and so forth, but for the most trades between like this 346 and 307 region So yeah with that being said I thought I would just talk about why I closed my trade today And why I think that now's a good time to try and close it and then potentially reopen in the future, right? So without any further ado, so if you look at the general Support and resistance right or the resistance level you can see that Pretty solid resistance around like 346 right and then The next level or the highest level right that's most relevant is around it's like 380 Which is where it peaked out Recently and then you can see just like it has in the past So it's hit 380 and then to fall them right back to this like 307 level hit 380 fall them right back to 307 And then if you look here, we've just hit 380 And then I didn't sell immediately because I wasn't 100% sure what's going on But if you look here, you can see we've had a sell-off since it's hit 380 It's pulling back and the EMA is starting to curl over so in my opinion I think this is gonna curl and it would just continue to pull right back to 307 And then obviously once we get to this sort of region It will be in the goodbye territory again And you can you can debate whether you want to pick it up again just depending on if it looks like it's gonna Continue down and there's a couple things you can do to help with that on the RSI it was Overbought right so if you're not familiar with how the RSI EMA and MACD that sort of thing work I've got videos about that But yeah, so on the RSI it's sort of overbought MACD is like curving down for a sell as well So I'd thought it should be locking a profit right close a position And yeah, so I mean for the most part now a lot of my portfolio I'm not really so much like on the day trading and a high leverage stuff that I used to do and because it It's very inconsistent as I found the hard way but But this is this is a lot better, right So just holding things for a long term with a couple of swing trades in there as well, but I hope this makes sense I hope you guys can see like the high points the low points Why I think that now is a good time to sell and then wait and then I might even just set an alert like this free Maybe like 310 so it's slightly higher So I don't know a lot 310 and then potentially buy back in depending on if it's like consolidating Because no point in buying in if it's dropping right because you're just gonna lose money for no reason So send a lot of like 310 wait for it to consolidate and and go from there But yeah, that that's it really That's it Let me know what you guys think of Tesla if you guys are buying it selling it what your Opinions are long term if it does go private then I guess we won't be talking about Trading it anymore, which you know is a shame, but it is what it is But yeah, thanks for watching. I hope you thought that this was helpful or if it was helpful in any way then I'm glad Um, yeah, good luck guys