The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $4,94; stop-loss — $5,20; take-profit — $4,42/MOC
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Well done, you predicted the downward move perfectly. How did you know the demand for shares of the company looks lower than the supply? Sorry if this is a newb question. I'm less than one year into trading and trying to get better at TA and PA. I own shares of MMAT, hoping for a run back to $20 or higher.
@dsunn723, I guess he is doing it on the fly by looking at the order book premarket-most of his charts are in 15 min timeframe .Please correct me if I am wrong . And I agree with you that his prediction is nice , but the chart itself has not much information for someone who is trying to understand the idea behind it .
KozakHlib
⋅
@RotanimreT, I analyze 1m chart, but Tradingwiev doesn't allow post ideas in 1m chart.
I agree, there is no a lot of information. The strategy is not easy to explain.
RotanimreT
⋅
@KozakHlib, Any books that you can recommend on the strategy you use? Thanks!
KozakHlib
⋅
@RotanimreT, well, I can't recommend any books specially for this strategy. Generally, probability theory is very important. Also, I can find some books abut market structure, if you really wanna read them.
RotanimreT
⋅
@KozakHlib, Thanks for your reply .I do read ,I will google to see if I can find some books on the market structure and probability theory.Thanks again!
KozakHlib
⋅
@RotanimreT, Coursera courses are better than any books.
RotanimreT
⋅
@KozakHlib, Thanks! I just googled it. Which courses in your opinion (related to your strategy ) is worth to take a look at ? Which corses improved your game ? Thanks again.