1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🤷♂️ Neutral
- We are seeing 2 compression candles known as dojis relativity towards the top of previous Resistance. This is where we would like to look for distribution. We do not have 100% Crossover confirmation on the Crossover strategy. It's not a confirmed play just yet. Need a little more time.
- Only 1/3 ema dots are firing red as of now. This also does not show a trade confirmation.
- We are playing in a nice size range, if we get a Crossover and selloff we could play a short for up to 10% for a potential test on support. If we were to collapse and break old support, chances are that this break to the upside was just a fakeout.
I could see one last gasping push upward to bust more shorts and then it collapses like you say
OTM.Investments
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@aaronsmth5, I could see that, valid. Thank you for sharing! Tight compression, I'm not rushing to the party just yet 😁
aaronsmth5
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@MajorLeagueTrader, same. I’m watching closely. I have some long dated 8/21 puts. But I still have cash in case I get a chance to add to them for cheaper or potentially snag higher strikes for cheap.
Thanks for the analysis. I can see one last gasp solely because that’s how things shook out in the 2008 crash. But in 2000 SP 500 crash, the chart looked a lot like this
OTM.Investments
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@aaronsmth5, I'm feeling bearish on a lot of the market right now. I hope she dies lol 🤣
DaddySawbucks
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Shorting this monster has ruined so many players lol; it is absurd at 1K per share fgs, but who's to say it won't become even more absurd?
Even weekly options on this are $50, unless it breaks ten minutes after you short you're gonna lose on them.
And so much margin needed to borrow these shares... I just watch it with stunned amazement. Ty for post!
@DaddySawbucks, we just had an awesome short opportunity if you look at previous structure. Overall long term yes it's a bull market so it does makes sense that most bears got rekt.
Acwood
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You called a fake out, isn’t that normally a sharp rise followed by a sharp decline? We seem to have price consolidation around the $1000 mark. Positive news could surge the stock. Negative news could push lower but I believe TSLA will beat Q2 expectations