Inverted H&S Inside the Bull Pendant

2021년 6월 18일

AMC has been accumulating for another squeeze up to the $77 area. It was already poised for breakout when I noticed it had also formed an inverted H&S inside the pendant. If it doesn't break immediately, it may put back a little (probably to the midline) for another run.

Of note two days ago, all of the mainstream finance site began to say "Take your profit and get out now." You have to understand how well connected these hedge funds are. They slip some money to a starving journalist, he writes their drivel to protect them from further loss and then the others quote the article ad nauseum.They do the same thing in crypto, claiming "Elon said this," when there's no tweet to be found.

Do your own research. I am not your financial advisor. Everyone brings a piece. This is my piece. Always have a stop, just in case conditions change suddenly.

No FOMO.

2021년 6월 18일

노트

We have a breakout. A bit lower volume than I would like but still a breakout. Currently retesting the edge of the flag. The retest will make traders more confident about jumping in here.

There's also resistance just above us around 64, then up in the upper 70s. That's the last line of defense.

2021년 6월 18일

노트

This is currently the view on the 1H chart:

2021년 6월 18일

노트

Holding my position now as the whole market is being dragged down this afternoon. It's not just AMC troubles. Looks like we're getting support from the 21ema on the 2hr chart. It bounced at $57.16.

2021년 6월 22일

노트

Price was unable to breakout with volume yet so it dropped back to the midline as I mentioned before as a possibility. Price is being supported by the 21ema on the 4H chart.