AMC - Here Comes AMCeeeeeee ❕

dRends35 Updated   
BATS:AMC   AMC Entertainment
Week candle about to close very strong and AMC has bounced hard from the long term 1:0.618 Golden Window taken from the shakeout top of this enormous crash.

A 1:0.618 is most common 3 wave ratio in this type of flash crash where the 3 wave is of course; weaker.

Also there is some bullish RSI divergence.

So good chance this is a significant low here

If it makes a log 0.382 retracement that would see it hit $9 more than a x3 from here.

And it may just be the market bottom 🤨.

Client call:
It was fun to pump with AMC while markets dumped and although this could be a market bottom there is also the possibility that this is an automatic rally as shorts cover that we have benefited from.

It just printed a Shooting Star as markets are starting to wobble.

It didn't quite make it to resistance to tap liquidity and perhaps it will.

But it has made it to the 1:1 Golden Window band that is a common 3 wave reversal ratio.

I think that it may collapse in this area and it could be fast if/when it does.

So i'm just going to take profit here.

If it pumps than congrats to those that had more appetite for this type of daredevil game 👍.

Trade closed manually

I'm taking a break from TradingView but you can find me every day in my Telegram Trading Group 🧐

Priority trades, round the clock updates and a 1 hour technical video per week 😼.

$50 per month 👍🏻.

Contact: t.me/dRends35

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.