All,
I have seen so many Symettrical triangle posts on AMC I had to post. We lost that .. its gone (on lower timeframes). Could be recovered in Pre Market / news of trading being suspended over weekend on short sellers. Please do not follow or buy on those symettrical posts because we have lost them.
Breakdown
#1: we WERE in a sym triangle and no longer the case clearly trend both horizontally and the uptrend support have been broken and in all honestly clinging to life down here.
#2 Yellow support - (major loss off support)
#3 White Support / Blue highlighter- were previous dual support (lost both)
#4 Red Highliter - Clearly the downtrend is obvious massive sell offs/Resistance
#5 Green area obvious demand area (I think we head here without a rally Monday)
I have seen so many Symettrical triangle posts on AMC I had to post. We lost that .. its gone (on lower timeframes). Could be recovered in Pre Market / news of trading being suspended over weekend on short sellers. Please do not follow or buy on those symettrical posts because we have lost them.
Breakdown
#1: we WERE in a sym triangle and no longer the case clearly trend both horizontally and the uptrend support have been broken and in all honestly clinging to life down here.
#2 Yellow support - (major loss off support)
#3 White Support / Blue highlighter- were previous dual support (lost both)
#4 Red Highliter - Clearly the downtrend is obvious massive sell offs/Resistance
#5 Green area obvious demand area (I think we head here without a rally Monday)
Note
SOMETHING IMPORTANT TO CONSIDER -- PEOPLE TRYING TO DRAW PERFECT LINE USING WICKS IS WRONG. WICKS ARE NOT DEAD ACCURATE (EVER) ESPECIALLY ON VOLAITLE STOCKS THEY CAN BE VERY MISLEADING.Note
Well we know those lines were right look at that gap back overNote
As you can see my trends were mainly tested as new support when regained etc. So I think we are "back on track" to 70-75Note
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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.