AMC - A Trader's plan to profit on the volatility
I'm not about the HODL life, however I love trading volatile assets such as AMC, Cryptos and Index/Commodity Futures. Here's how I'm planning to trade AMC.
I am not sure if this is just a pump and dump or the beginning of another bull run for AMC, so I'll have to see how it reacts when it comes down to the Possible Value Area. It's good to see the volume spike, which is all I've been waiting to see for months with AMC. I don't really care much about rumors or theories. If it's gonna run, the charts will indicate it. No need to listen to any latest news or updates.
There are 2 possible scenarios that play out:
1. This was just a pump and dump to shake out retail traders and AMC is gonna go back to sleep or worse, drops below the Support Zone.
2. This was the first pump that will lead into another big push up for AMC.
If #1 plays out, I'm hands off. If #2 plays out, this is my plan. Enter around the Value Entry Zone and take profits at my Take Profit zones. I may hold some and trail it up just to see how high it goes but I'm definitely taking profits on the way up.
I am not sure if this is just a pump and dump or the beginning of another bull run for AMC, so I'll have to see how it reacts when it comes down to the Possible Value Area. It's good to see the volume spike, which is all I've been waiting to see for months with AMC. I don't really care much about rumors or theories. If it's gonna run, the charts will indicate it. No need to listen to any latest news or updates.
There are 2 possible scenarios that play out:
1. This was just a pump and dump to shake out retail traders and AMC is gonna go back to sleep or worse, drops below the Support Zone.
2. This was the first pump that will lead into another big push up for AMC.
If #1 plays out, I'm hands off. If #2 plays out, this is my plan. Enter around the Value Entry Zone and take profits at my Take Profit zones. I may hold some and trail it up just to see how high it goes but I'm definitely taking profits on the way up.