Week candle about to close very strong and AMC has bounced hard from the long term 1:0.618 Golden Window taken from the shakeout top of this enormous crash.
A 1:0.618 is most common 3 wave ratio in this type of flash crash where the 3 wave is of course; weaker.
Also there is some bullish RSI divergence.
So good chance this is a significant low here
If it makes a log 0.382 retracement that would see it hit $9 more than a x3 from here.
And it may just be the market bottom 🤨.
Client call:
A 1:0.618 is most common 3 wave ratio in this type of flash crash where the 3 wave is of course; weaker.
Also there is some bullish RSI divergence.
So good chance this is a significant low here
If it makes a log 0.382 retracement that would see it hit $9 more than a x3 from here.
And it may just be the market bottom 🤨.
Client call:
Trade closed manually
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It just printed a Shooting Star as markets are starting to wobble.
It didn't quite make it to resistance to tap liquidity and perhaps it will.
But it has made it to the 1:1 Golden Window band that is a common 3 wave reversal ratio.
I think that it may collapse in this area and it could be fast if/when it does.
So i'm just going to take profit here.
If it pumps than congrats to those that had more appetite for this type of daredevil game 👍.