AMC -- Threading The Gates
Have you ever watched slalom skiers? The way they weave down the mountain and pass between gates? AMC has been doing something similar for 8 straight trading days.
What you have here is the same chart we've been looking at from the Accumulation Within The Spring that I first shared on Dec. 2. Once it seemed we'd reached bottom, I went to my The Cycle, Redux chart and wondered what it would look like if I tried to sync the low on Dec. 3 with the low on Jan 5. So, I took bars patters from a handful of timeframes and pulled them into place on this chart. Then, I just watched.
What emerged a few days ago was that the daily bars pattern, squished to mimic the quicker timing of the print currently, was most accurate. And, my "most accurate" I mean, so far -- eight days straight -- perfect. We've even hit 5 bullseyes in those 8 days, which seems statistically impossible.
You are actually seeing two different bars patterns overlaid on one another to mimic the shape of a daily candle and wick. For the white candle, I used an HL pattern and for the yellow a OC pattern. Because the bulk of the past price action took place between candle open and close, I consider this "body of the candle" to be the bullseye, but in reality passing through the gate seems like an improbability after just a few trading days. I'll also note that this holds a fairly Wyckoffian pattern as this micro accumulation consolidates after SOS, before exiting into Phase E and pushing the price action back into the master trading range we've been in since June.
This is something I'll continue keeping an eye on.
All charts referenced are below.
As always, feel free to click "Make Chart Mine" and enjoy tinkering with it for yourself.
What you have here is the same chart we've been looking at from the Accumulation Within The Spring that I first shared on Dec. 2. Once it seemed we'd reached bottom, I went to my The Cycle, Redux chart and wondered what it would look like if I tried to sync the low on Dec. 3 with the low on Jan 5. So, I took bars patters from a handful of timeframes and pulled them into place on this chart. Then, I just watched.
What emerged a few days ago was that the daily bars pattern, squished to mimic the quicker timing of the print currently, was most accurate. And, my "most accurate" I mean, so far -- eight days straight -- perfect. We've even hit 5 bullseyes in those 8 days, which seems statistically impossible.
You are actually seeing two different bars patterns overlaid on one another to mimic the shape of a daily candle and wick. For the white candle, I used an HL pattern and for the yellow a OC pattern. Because the bulk of the past price action took place between candle open and close, I consider this "body of the candle" to be the bullseye, but in reality passing through the gate seems like an improbability after just a few trading days. I'll also note that this holds a fairly Wyckoffian pattern as this micro accumulation consolidates after SOS, before exiting into Phase E and pushing the price action back into the master trading range we've been in since June.
This is something I'll continue keeping an eye on.
All charts referenced are below.
As always, feel free to click "Make Chart Mine" and enjoy tinkering with it for yourself.
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