This is what would happened had I took a short on this stock as well. That is, I would be in a loss due to the stop loss being taken out.
So, you can see that the BBs knew most (90%) retail traders would place their SL slightly above the highest candle; (9 Nov 20 at 2230 hours) and take all their money.
Then, you wanted to follow through for a 2nd short but...
Earnings 11-16 AMC
LE= Long entry. YY is not to LE level for C&H pattern
The S traignle upper trendline can provide support for possible pull back. I almost put the handle low a few dollars lower, so use your own judgement
Possible stop below Handle low or Mid cup which is 85.9
Targets for a cup and handle are calculated by the depth of the cup
This is an...
Stop possibly below 74.35
T2. 136 to 153. Targets 2 are usually down the road and after a significant pull back. Chances are the stock will become overbought and pull back if and when it reaches targets 2
Not a recommendation
Although lacking in volume for now, this set up looks good for a significant advance in the medium term.
The market sector is favourable.
The chart is coiled.
Risk/Reward are looking good with clear levels highlighted in blue.
$YY - If You are not disciplined, Guaranteed Loser market.
1. Options Liquidity
2. MM manipulating Options Market
3. Staying in the trader and TAKING HEAT.
The story is 07/09 I entered a debit spread as it checked out all my criteria for UCS#1 Long Trade.
$2 Wide Spread for $0.95 (Thanks to Skew)
On 7/16 - The Short side lost 75% of its credit, so Closed it...
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
