Very large head and shoulders finishing out the right shoulder(s) now. Attempt to reclaim the yearly pivot zone (Pink) failed providing very bearish price action in chich the pivot was gapped below, and failed a retest. So far TWTR has also been rejected by it's maco supply & demand channel. the Head and shoulders price target is well below the next yearly support zone, and therefore I have chosen that zone as my exit. I expect a fair amount of meandering so I set my expiration date for January 2020, when a new set of yearly pivots is generated. my stop is a daily close above the previous swing high.
Position taken:
Long Put TWTR $18 Strike 01/17/2020 Expy.
Denoted by the Red and Blue circle
Position taken:
Long Put TWTR $18 Strike 01/17/2020 Expy.
Denoted by the Red and Blue circle