AMC -- The Cycle, Redux
Previously (see link to chart below) I posted a simplified cycle analysis based on the work of @MrBooksy (on twitter). In that chart, I looked at the daily timeframe and noticed similar patterns of movement recurring in each cycle, with the pattern of the patterns growing more complex at each new consolidation level. Today, I noted AMC's volume returned to the exact point it was at on Jan 6, 2021. And, when I saw that, the pattern outlined here was SUPER clear to me. Obviously, we can't see into the future, so I can't with any confidence tell you that today = Jan 6... nor would that be wise, because Yellow Box 1 = 316 trading days, whereas Yellow Box 2 = 132 days.
I've just begun to look at the volume correlation between the two zones on comparable timeframes. If that turns anything up, I'll update.
Please select "Make This Chart Mine" if you would like to play with this idea or help contribute to it in any way. We're in this together.
I've just begun to look at the volume correlation between the two zones on comparable timeframes. If that turns anything up, I'll update.
Please select "Make This Chart Mine" if you would like to play with this idea or help contribute to it in any way. We're in this together.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.