Check my prior idea for a true big picture look at what I believe is happening with AMC. In the shorter term, I believe this Wyckoff schematic -- reaccumulation after decline -- best fits what's happened with AMC since June. If so, you can look at it combined with the cycle theory stuff and get a decent idea of how the next few turns in the road will play out.
That red line is a bars pattern from mid-April through the June run up. It's not meant to be predictive, just to give you a sense of how the next couple of phases in this cycle might go.
I've noticed with Wyckoff that your understanding unfolds as new data prints on the chart. So, in this case, the resistance creek could stretch out for a while... this schematic holds until we see a sharp drop below the support zone.
That red line is a bars pattern from mid-April through the June run up. It's not meant to be predictive, just to give you a sense of how the next couple of phases in this cycle might go.
I've noticed with Wyckoff that your understanding unfolds as new data prints on the chart. So, in this case, the resistance creek could stretch out for a while... this schematic holds until we see a sharp drop below the support zone.
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I'm leaving this up so we can see how it plays out. The algo seems to have have inverted itself... let's see how long/if that trend holds? I think there's a lot to be gained by watching the daily print against the bars from April - May I used for the red hypothetical line.
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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.