I was charting out an AMC chart, and happened to notice several trends seeming to converge around November 25th, 2024 at approx 586.00. Using that, I refined the chart and trend lines using that point as an origin, and tracing it back through the price action.
Much to my suprise, the trends all seem to match both major and minor movements of the price action throughout the chart. In one instance, the price action rode the trend for more that 130 days, before dropping to a lower trend. Another interesting point is from the inflection point through the peak of the high in June lines up with price action as far back as 2015. Pay attention to not only the wicks and open/closes of major candles, but also the wicks of the smaller candles in between.
I know my charting style is unconventional, but there has been rhyme to my reason in the past.
I do not understand the significance of this yet, so I present my findings to you all.
Please comment and let me know what you believe is happening here.
Much to my suprise, the trends all seem to match both major and minor movements of the price action throughout the chart. In one instance, the price action rode the trend for more that 130 days, before dropping to a lower trend. Another interesting point is from the inflection point through the peak of the high in June lines up with price action as far back as 2015. Pay attention to not only the wicks and open/closes of major candles, but also the wicks of the smaller candles in between.
I know my charting style is unconventional, but there has been rhyme to my reason in the past.
I do not understand the significance of this yet, so I present my findings to you all.
Please comment and let me know what you believe is happening here.
Comment:
I just realized you're not able to zoom or change the orientation of the chart at all, so it makes it hard to analyze, so please feel free to make your own chart and play with it. The point I found is on November 25th, 2024, at 586.00 and let me know what you think.