Ben | No Proof No Trade

Ex future trader/ Option flow and SMC.
Exploring markets through data, sentiment and technical analysis.
Trade the charts not narratives| Not financial Advice

[Ben | No Proof No Trade @BenTradesData]

If you are curious how option levels affect the price action, I highly recommend you watch this video of live price action of $META on a day that dropped around %4 after an epic run for the whole week.

Watch how price reacted to $755 and $747.5.

[Ben | No Proof No Trade @BenTradesData]

Are you want to enter? Or just don’t like Zuk? 🙂

[Ben | No Proof No Trade @BenTradesData]

I never liked how $META rejected the highs

The door is open to test the low of the channel. 660-690 on the table.

[Ben | No Proof No Trade @BenTradesData]

@MZohaibKhan92 This is what I shared regarding $NOW

https://t.co/KMNGMJTVf6

[Ben | No Proof No Trade @BenTradesData]

$NOW hit the supply area and rejected gracefully.

That’s expected.

The channel is a projection and we will see how the price reacts.

Since it is the first touch, it may go a bit lower to grab some liquidity and come back to test higher prices. There is a potential to continue go lower for deeper pullback.

Then I will draw the support lines but that is the future.

[Ben | No Proof No Trade @BenTradesData]

@Tinfoildestroy @HughInvests I could have walk about and still get paid. You don’t have to work to get paid

[Ben | No Proof No Trade @BenTradesData]

I got paid but kept the half and the rest being robbed to spend on things that I haven’t signed off for, and when I literally want something from NHS (aka our lovely NHS), can’t get the service I want. I don’t get free money, free home, but as a least expecting some value for money

[Ben | No Proof No Trade @BenTradesData]

@MZohaibKhan92 https://t.co/cFzw4JaGKD

[Ben | No Proof No Trade @BenTradesData]

I never liked how $META rejected the highs

The door is open to test the low of the channel. 660-690 on the table.

[Ben | No Proof No Trade @BenTradesData]

Setting for a jump?

$VIX

[Ben | No Proof No Trade @BenTradesData]

Any future trader in my network?

If you have done futures and tried to play the reversal on $SPY $SPX $QQQ $NQ $ES, you know how hard it is in days like this.

There is no bottom, market keeps going down. The best play was to just play short. Every single bounce, we’re sold off.

It is scary and terrifying.

If you think buying and selling stock plays with your nerves, you’d probably haven’t done futures trading.

[Ben | No Proof No Trade @BenTradesData]

I used to do futures and one thing I never forget, how traders were trying to catch the bottom and play long and every time the market continued down. Eventually closed at the bottom. The candle looked awful and everyone thought the end of the world but Monday was a different story

[Ben | No Proof No Trade @BenTradesData]

The PUT wall at $250 is the only reason $AMZN is not going lower today.

I have a position in Amazon but I have to admit, I don’t see much support in option market next week unless some positioning happens tonight or Monday morning.

If we loose 250, opens door for 220 pretty quick.

[Ben | No Proof No Trade @BenTradesData]

@Mr_Derivatives It hit the first reaction point though

[Ben | No Proof No Trade @BenTradesData]

@Mr_Derivatives @BuildMelee Look at the bright side. I suggested to expand the horizon to see the opposite, don’t need it. You got it now

[Ben | No Proof No Trade @BenTradesData]

@Mr_Derivatives I checked VIX futures expiry, as I thought they expired yesterday but expiry is next week also. But again today is Opex so expect anything

[Ben | No Proof No Trade @BenTradesData]

Wow wow. $VIX $VIXY is crazy.

Does nothing for months and when it wakes up, you should be really scared.

[Ben | No Proof No Trade @BenTradesData]

$NOW hit the supply area and rejected gracefully.

That’s expected.

The channel is a projection and we will see how the price reacts.

Since it is the first touch, it may go a bit lower to grab some liquidity and come back to test higher prices. There is a potential to continue go lower for deeper pullback.

Then I will draw the support lines but that is the future.

[Ben | No Proof No Trade @BenTradesData]

$SOFI needs to close above this trendline today. That’s it.

[Ben | No Proof No Trade @BenTradesData]

@chartingthemkt There are bear and bull cases and I’m more aligning to bear case if I’m be honest.

[Ben | No Proof No Trade @BenTradesData]

@NotA_Bull I’m looking into adding at 201-204

[Ben | No Proof No Trade @BenTradesData]

Mother of Gods $VIXY VIX

This is a breakout of weekly pattern so it is not a joke chaps.

[Ben | No Proof No Trade @BenTradesData]

@Mr_Derivatives Wow, breakout (weekly)

[Ben | No Proof No Trade @BenTradesData]

Here is the weekly rejection of $MAGS after breakout.

From the technical point of view, this is really bearish.

Still 4 hours left and I don’t want to predict what would happen by the end of the session.

If it close like this candle, this is bearish for the market. Even if it goes back up, sellers may step in.

Hopefully I’m wrong.