Hey there, learning more about Wyckoff and starting to understand the pattern. Putting this out there to remember and look at in a few months. MLCO appears to be going through an accumulation and is dropping back down to the support zone slower and slower. This is followed by a pop down low before springing up, testing resistance a few times, and then waving up...
I'm still learning the ropes and this morning was Wyckoff. Found a good chart after some googling, here's the jpg . In order to internalize what I learned, I decided to compare it to something that's moving a lot, like AMC. It's perfect, which is scary. Open the pic and compare, but make up your own mind. I'm still pretty green. Level to watch for is $45
LONG TERM I'm long on WKEY , and because they went public just before the covid crash it's hard to identify long-term trends, but after this past month I think we're in a bullish channel from April 2020 to now. January spiked from 6 to 12, and then it recovered higher/ March saw a wild 3-week spike from 8.25 to over 20. This both broke through major highs and...
Exploring Gann fans. AMC has been respecting the 1:2 and trading in that channel. If the Current low respects the 1:1 trend line, then there's room for a move from 45 to 216 in one day. Not that it will, but that's the "reasonable" limit. If it significantly breaks the 1:1, well then the fun's over, I suppose. Note: Gann fan is built using the lows from the 24th...
TLDR: Long XERS above 4.26, expecting dip on monday before move to 5-5.35 by thursday. XERS has been hype for a few days now, and based on the broader price levels, there's a potential elliott wave forming. Pattern: (0) Move started on the 2nd. (1) Hit this in friday, 4th in AM, so we're lookin at around 2 days per step. (2) Shorter leg so a perfect retrace...
Continuing my experimentation with some of the tools I don't normally use. Not a fan of NAKD. It's burned me in the past, but after the spike this week, it's hard to look at the daily and not see a long term uptrend. Using the Gann Fan, we're back to the 1:1, so this is a potential rebound spot. If it rebounds, it either retraces and runs out of steam, or does...