Snapshort
Snap Chat SNAP stock analysis and forecast. Short opportunitiesShort opportunities are being created on Snap Chat SNAP stock.
New weekly supply is being created on Snap Chat on the weekly timeframe around $16 per share. The stock has been doing nothing for a few weeks and it's now dropping strongly creating new weekly supply imbalance and lower timeframe imbalances. No longs are allowed. Price action and supply and demand
Weekly price action analysis is telling us than bearish impulses are stronger than bullish impulse so it would be suicidal to open short positions on Snap Chat stop. As per the supply and demand analysis, only shorts are possible, that is, selling the stock or use stock options to trade all the way down as there is a lot of room for price to drop with no important obstacles.
SNAP Back To The L-MLHHere's a nice test of the Centerline guys & gals. I think I hop on and see if we can bang it to the L-MLH §8-)
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SNAP headed to 16.50NYSE:SNAP is headed to 16.50. Retraced 50% of earnings gap down. Sellers coming in.
SNAP - Potential of two centerlines?I had right now a fellow trader asking me about which centerlines could be met, if I have two forks on the chart. The answer is: either of both can be met, even if the other one is a very big one like the one in the current Gold chart:
Why is this possible?
It is a question of the perspective, the context:
If you look for "quickies", then you probably prefer to trade the smaller ones, because the TIME it takes to reach the centerline of the smaller fork is shorter, even if both have the 80% chance to be hit.
So, think first what you can stand, what your style of trading really is and with what product you trade it. And by "product" I mean the underlying or options or futures etc.
I like to trade options very much.
But I seldom only buy options, I look for theta - time decay and collect premium.
If my assumption of a market is heavily directional, then I use options too, playing my chances with a RiskReversal (Selling options for a premium which finances me the bought options, that are usually two or more times the bought ones.)
Go slow, learn (by asking like this trader) and then you will earn...it's a process and it takes time.
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SNAP snaps down IMO!Close below centerline and multiple tests.
Looking for a target at the L-MLH.
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SNAP - SNAP on it's way down to the L-MLHThe second head bang at the CL. is a good indication that we will see price down at the L-MLH.
When? Dunno...
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