Beginning from the left, we see where price broke out, where many made and lost millions. From there on, price went down with huge up-swings in between.
What's that orange inside pitchfork?
This pitchfork gives us a kind of a Swing-Frequency.
What does this mean?
Well, it's nothing more then a measurement of this stocks swing volatility. Furthermore it combines time, by measure and projecting the slope.
As we see, the slope is slightly pointing upwards.
In short, these lines show where we have highly potential support & resistance..
And there is the yellow Channel, the boundary where price trades within.
The Stochastic shows, where we have a hint for a potential move to the upside. We can combine this with the overall analysis and with price action.
Lastly we have the red pressure-cooker line on the most right part of the chart. This pressure line indicates that price is really squeezed down, waiting for a pop through it.
To me, a potential trade could be a breakout through the pressure-cooker line. The problem here is, that for now, nothing indicates that it will happen soon. Even the indicator is not fully oversold yet, so it could break above it's signal line.
I'm waiting for a clear signal.
Just something, that makes me scratching my head or catches my eyes attention.
Observation Hat ON.
#amcquickie
What's that orange inside pitchfork?
This pitchfork gives us a kind of a Swing-Frequency.
What does this mean?
Well, it's nothing more then a measurement of this stocks swing volatility. Furthermore it combines time, by measure and projecting the slope.
As we see, the slope is slightly pointing upwards.
In short, these lines show where we have highly potential support & resistance..
And there is the yellow Channel, the boundary where price trades within.
The Stochastic shows, where we have a hint for a potential move to the upside. We can combine this with the overall analysis and with price action.
Lastly we have the red pressure-cooker line on the most right part of the chart. This pressure line indicates that price is really squeezed down, waiting for a pop through it.
To me, a potential trade could be a breakout through the pressure-cooker line. The problem here is, that for now, nothing indicates that it will happen soon. Even the indicator is not fully oversold yet, so it could break above it's signal line.
I'm waiting for a clear signal.
Just something, that makes me scratching my head or catches my eyes attention.
Observation Hat ON.
#amcquickie