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AMC - Great Time To Buy

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We didn't miss this pump and were in before.

But if you did then this is the perfect time to buy as AMC is in the 1:1 Golden Window which is a very likely reversal ratio.

Big bounce coming!

Not advice.

Ghi chú

Popped out by the time I posted, but still a great buy ! Very volatile so a scattered entry can work well.

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Back inside and an ideal buy at $4.97 !

Could go a little lower of course.

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Here comes that bounce - blink and you missed it!

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This is a great one for selling short term puts. Rinse and repeat.

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This is still a decent time to top up - sell puts or buy the stock.

Getting shallow here and probably a bounce coming.

Might be a big one, we'll see.

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Didn't get time to post this here inTradingView, but having re-tested the blue trading range and the 4H 200MA, it would appear the was "SRP" shakeout low.

Having found support on and then popping up from the moving average, it is high probability the next wave up could be underway.

Whether it is a connective 2nd wave that will see a 3rd wave down to complete a 3 wave correction - we'll have to see.

But I think this is likely the start of the bull market here and AMC should still be a great buy trading with momentum after this pop.

It could drop off a bit of course before moving on up but this show of strength today is a big clue that the next wave up is coming.

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These little moving average crossings are building cause for the next bounce.

For a simple trade you could buy at the re-test of the 4H50MA @$4.86 and sell 40% up at the 0.618 retracement @ $6.8.

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Thats not what I am doing though. I sell short term and high leverage puts to gamblers. Due to leverage, implied volatility contraction and time decay, I am making good profit while AMC drifts sideways and much more when it pumps.

And so rather than having a specific "take profit" I simply buy them back to close when they are near worthless. This is a rinse and repeat process that I have been doing since March when AMC hit my 0.618 Golden Pocket retracement target.

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Could pop soon.

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Here comes that pump, lets see if it has legs...

Either way AMC is looking solid in this area. Lower lows are off the table now unless there is disaster news.

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Post earnings pop could fire up the bounce we've been looking for.

This could get very wild.

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Has printed a shakeout with no candle closes above the 1.13 of the 1:1 Golden Window.

So this is probably a 3 wave correction completed and AMC will probably trickle down here.

This will be a great opportunity to buy more or sell more short term puts.

This pull back is ideal for the put seller because we make profit from time decay as well as bullish price action.

The longer it wanders in this area; the better 🙂.

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AMC appears to be printing a "Loop the Loop" wipe-out with extremely wild news triggered impulsive waves both up and down.

If it bounces from this area (it will), then it will have printed another SRP Shakeout Reversal Pattern through "Support" which is now the previous yearly low.

But more importantly it will have printed a liquidity tapping shakeout through the now very deep Supply Line.

These movements are entirely algorithmic and this double edged move is designed to wipe the slate clean from over leveraged or unware traders.

This is exactly the type of price action you can expect to see at a MAJOR low.

A great time to buy more or sell more puts.

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You may wait have to wait a very long time to get a better opportunity to get long AMC.

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Getting ahead here, but this area may become an island value area low to gap back up and print a Morning Star Candle Formation on higher time frame.

This is how it went with TLRY:

Day chart

Month chart

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AMC

Has taken a battering before this reverse split. I have never seen a move quite like this.

I have inverted the chart so I can show you a Wyckoff similarity.

So the good news from the bullish perspective is that this whole trend looks like 10 SOW up to 11 UTAD, although in this situation it is so far a retracement not a higher high.

This all looks like a shallow channel and there is the possibility it is in a highly manipulated exhaustion climax.

The big gap also suggest this last phase is an exhaustion move potentially before the start of the bull market.

The bad news is that it has poked through the retracement Golden Window. That is fine as long as it quickly moves back in. If not then more chance it will make a full retracement.

So if the trend continues any further then I will exit on a bounce.

But if it returns quickly to the GW then I may hold and perhaps sell more puts, though the reverse split if not favourable for cash covered puts as I will discuss later 🤨.

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Would you like the good news or the bad news first?

Of course - the bad news.

The bad news is that AMC has plunged too far below the retracement Golden Window for this to be a selling climax and much more likely is this wave down is the dominant trend.

There is always the possibility of an anomaly, but because AMC has gone considering deeper than the 0.786 then the chances are it will make a full retracement and go all the way home down to $10 and once it is there it can go lower before a recovery.

Ok bad news aside, what could possibly be good here ???

Well...

In my study of crash structure; there is almost always a logarithmic 0.618 bounce following the most impulsive wave, and its fair to say this has been a very impulsive wave.

So it should see a 0.618 recovery before going lower and similar to the previous observation it could overshoot up to 0.786 which is the retracement Golden Window band.

If the low is in (which it may not be) then that band is from $29.65 - $38.86.

Now considering liquidity and breakout trend will most commonly re-test the previous extremity of the trend because that is where high liquidity sits with plenty of limit orders.

That is why trends make a re-test; to tap the liquidity in a regressive wave; shaking out unaware traders before the next dominant wave down.

In this trend, that previous trend extremity is labelled "resistance" on the chart @ $32.12 is within the retracement Golden Window.

So with the trend so wild its not high probability but perhaps reasonable probability that this trend will bounce all the way up to touch that resistance point before the dominant trend resumes down to $10 and below.

There are a lot of permutations that I have outlined here in a wild trend and so I couldn't say that all of this playing out is high probability but this is the most likely outcome according to my study of liquidity and Fibonacci ratios.

So this should be a great moment to buy for the upcoming bounce if you'd like a wild short term ride, or if you are trapped then an opportunity for a somewhat graceful exit can be in the pipeline.

This will be a great one to buy down the road but chances are it will see $10 and lower after whatever bounce comes.

GL to all.

Ghi chú

APE is no more and all is done with AMC stock split. Should be a big bounce coming soon, perhaps whenever index bearish trends weaken.

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AMC will at least hit the Supply Trendline to provide a semi graceful exit.

Upper liquidity target is $32.12

The start of the week is often a time for reversal for anyone that likes white knuckle rides.

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This trade hasn't gone according to plan but the great thing with selling cash covered puts is there is room for recovery and we can sell covered calls against our position whenever we think the bounce it topping out.

If we're right we win premium. If we are wrong we exit the trade at the strike price chosen.

This is a cyclical time decay selling techniques known as The Wheel - and it benefits greatly from ultra high volatility moves as we are seeing here.

Stay tuned if you're like to know more about this.

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AMC has now made an all-time low and this is the time when the wise guys that dont make profit are out in song.

But if you think AMC has a future then this is the deep value area that savvy investors dream of getting.

If you've studied Fibonacci crash structure you'll know that there is usually a 0.618 bounce. We dont know where the low is yet but if it bounced from here a 0.618 is up at $33.

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And since we have found a new low, the liquidity is tapped and this could well be a market bottom forming here while the wise guys tell you how right they were but dont buy.

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Sentiment indicators are all a big clue and if you look on Social Media or any trade chat website you'll see its all loud bears but most of them will not think to buy because they have no-one to follow who is banging a drum to buy.

This could see $5 before a bounce and there is no way to know but that 0.618 bounce is coming and good chance the low will be a market bottom or be very near a future market bottom.

Then with a clean slate down the road perhaps Jeff Bezos will buy AMC and it will pump.

But hardly any retail will ever buy in an area like this. They will wait until AMC hits the next all time high when their youtube gurus ramp up the shilling.

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Almost every time there has been a big swing it has come outside of regular trading hours.

Good chance it will happen again when the bounce comes, so there will be no time for retail to buy the value low.

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If AMC is a stock you like but having seen such an enormous collapse you're now having serious doubts and have decided not to buy...

Or perhaps even you are now on the other side of the fence laughing that you could have been so foolish to buy AMC not realising what garbage it is.

Then close all of your accounts today and get out of trading. Go and re-think your life because this game is not for you.

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Has been printing shallow and ascending so chances are it will at least print a Fear Test / Exhaustion Climax as part of a Wyckoff Accumulation before any bounce arrives.

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Up 12% pre market - the bounce could be on.

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Engulfed, heading back down for now

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If you notice in the comments we have a multitude of trolls and Captain Retrospects but how many are screaming that they are going to buy?

1 I have counted so far.

1 is of course better than none but that goes to show you how market psychology works.

99% aka the herd cannot think critically. They can only follow so they will never grab fear with both arms and hug it tightly. They can only follow with greed as the party is ending and walk off cliffs.

If you have bought here then congratulations; you are in the 1% club. Please pass GO and collect $200.

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The slump today has whipped up into a bounce and this is a very positive sign that the real bounce is in the pipeline.

When the real bounce comes no doubt there will be some positive news event 😅

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Some of you may have taken this call when it was up at $5 before the split.

Its for you guys that I'm really keeping this thread going step by step so you can see why the technical play in a situation like this (not including waterfall charts) is never to sell the crash (and get rekt) but always to wait for the bounce.

Regardless of depth (and we are deep 😅) there will be a logarithmic 0.618 reversal in the primary impulsive phase.

That is market mechanics as you will see.

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Social media geniuses are running amok at how obvious it was that AMC is garbage heading to zero.

Meanwhile bullish divergence has been building up for almost a month and it is pushing up out of oversold territory.

Smart money buys at a discount while dumb money thump their chest.

Its the same at every market low.

The liquidity has been tapped and we're all done here.

Big bounce coming soon 👍.

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Too funny the technically illiterate believe they can preach the boundaries of TA without actually learning it.

Its just the same at every market extremity; when I called BTC to correct to 20K when it was up at 60K I got plenty of bullish wise guys commenting how technicals are out the window due to their fundamental beliefs.

Now it has crashed the bearish wise guys will tell of how it was obvious due to inflation, rate hikes and imminent recession.

So many opinions in humpty-dumpty-land but what is common about 99% is they don't actually do much work but they would like you to think they do.

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Just to remind you how it went at the top - it went like this.

Same thing, lots of wise guys.

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AMC looks like it may open bearish here. If it goes below the low that is a golden buying opportunity.

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Yet another recovery after quite a bearish slump. Every time it has these recoveries there is more chance the big bounce is coming.

A great moment to sell puts or buy the stock 👍.

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Is pushing above the accumulative trading range.

Could be a big pump if it can hold, if not then probably a pump a little later.

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Up we go.

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Is printing very small candles and this will usually lead to impulsive price action.

Quite similar to the accumulation circled, but if this breaks up then it will be a third wave and so likely to be quite a bit more impulsive to the upside 👍.

This is a great area to sell more monthly or even weekly puts depending on what you are looking to achieve.

Monthly are generally my preference for the bullish trade; selling puts because I dont mind to be in trade longer and they are worth more.

It also means that if they are put to you then you own the stock for less.

We'll look at this and do some Options work in the next video 👍.

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Looking good for a pump soon.

If you bought or sold puts through this area then you are doing well.

We will revisit put selling strategy in tomorrow's video 👍.

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AMC

Is slumping here and since the previous trend was so deep then good chance it will re-test the low here and that can be a great opportunity to buy more or sell puts. Monthly puts with strike price between 0.2-0.3 delta is always my preference as we looked at before (I will make a re-cap sometime).

It could be another wave down of course because the floor is never solid, but AMC is extremely oversold and all the liquidity is above with plenty of solid structure (as opposed to a waterfall chart).

So much more likely that this will be an Exhaustion Climax as part of an Accumulation before we see a 0.618 bounce.

Ghi chú

Has dipped below the low and this is likely a ST Secondary Test as part of a Wyckoff Accumulation.

This chart has a fair amount of history and had big pumps but it has never been lower than here and so that makes the area below a significant liquidity pocket.

Unless AMC does something it has never done before it will have a 0.618 bounce and it will re-test the previous low now @ $32.

Its worth considering that its also never had a fall like this, but some habits never break 🧐.

Ghi chú

Bounce coming from the VAL value area low.

Most on this page dont have the brains to buy it, they can only follow lemmings and buy tops.

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Its very impressive the amount of humpty dumpty comments on this page. Its good to know you are out there, I can feel less stressed if I take a day off sometimes.

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It took a while but then in the blink of an eye a 320% pump hits all our previous targets.

The 0.382 retracement, the trendline and 2020 resistance.

Selling here - GG.

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We're into the Trump presidency bull phase🥳.

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