AMC
Ticket to nowhere
That 7-day AMC pump to end May 2021 sure left behind a lot of blood.
The last 300 days since that 7-day pump, price has been moving downwards in a large price channel.
We have a death cross of 200 and 50 ema signaling the bearish conditions.
Price is currently at resistance level of price channel
Stochastic is overbought.
The last two times price has found itself at resistance area of price channel and stochastic was over-bought, price has made a move back down to support.
This time will be no different.
Yesterday’s candlestick closed a shooting star and resistance and todays closed below that. This is my cue to enter trade.
Entering trade short
Entry: 25.28
Stop loss: 31.15
Target: 11.00, +56.48%, 2.43 RR ratio
Ticket to nowhere
That 7-day AMC pump to end May 2021 sure left behind a lot of blood.
The last 300 days since that 7-day pump, price has been moving downwards in a large price channel.
We have a death cross of 200 and 50 ema signaling the bearish conditions.
Price is currently at resistance level of price channel
Stochastic is overbought.
The last two times price has found itself at resistance area of price channel and stochastic was over-bought, price has made a move back down to support.
This time will be no different.
Yesterday’s candlestick closed a shooting star and resistance and todays closed below that. This is my cue to enter trade.
Entering trade short
Entry: 25.28
Stop loss: 31.15
Target: 11.00, +56.48%, 2.43 RR ratio
Trade closed: target reached
Exit: 11.00, +56.48%, 2.43 RR ratio
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.
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.