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]

$SNDK fans:

A possible bearish projection for $SNDK

Technical:

If we assume the bear flag broke below and the price is heading to the next equilibrium price
Possible prices:
$1000
$860
$600

600-800 correspondents with the measured drops from the highs in the first leg.

Fundamentals:
Market’s horizon is 18 months and if they see a temporary slow down in demand by frontier models and assuming to stick to sustainable annual EPS of $40, 870 will be 21.8x while 600 will be 15x

What do you think where the stock is heading? Up or down?

[Ben | No Proof No Trade @BenTradesData]

@Mr_Derivatives What if $SNDK is heading to do this?

[Ben | No Proof No Trade @BenTradesData]

It depends, I’m happy to take early position in case the first case work out if you like the business. I’m more strict on zombie companies but I don’t have problem with Amazon

[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]

@itsdbtalks That’s part of the game. I never had an issue with drawdowns. I think it is healthy and I find it unhealthy that we don’t have many meaningful ones.

[Ben | No Proof No Trade @BenTradesData]

Have you heard about this stock is down X percent, hence it is a good buy?

These are the stocks that made a ATH more than 5 years ago and still yet to claim their ATH price (If ever)

$PYPL $310 - July 2021 current price 56
$ZM $588 - October 2020 current price 94
$BABA $319 - October 2020 current price 109
$PTON $171 - January 2021 current price 5.22 🤯
$BIDU $354 - Feb 2021 current price $84

This one may relate to many of you who is after space stocks:
$SPCE : $1249 - Feb 2021 - current price $2.44

ATH is meaningless. Investors might be doomed and left with a bag. Doesn’t mean the stock will go to the same price.

[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]

@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.