Told you so i told you so i told just kidding - i'm definitely not here to point the finger right. One of the things that we talked about in yesterday's video is looking at the four hour time frame. I think it's very easy to see on why i made yesterday's video and i never encourage people to sell. I never encourage people to buy, but i like making people aware of previous support levels or previous resistance levels.

So i hope again yesterday's video did not offend you. It's not to target anyone. It's just pointing out the obvious, and i think today's performance, where it pulls back from you, know, pre-market or aftermarket highs to where it's at right. Now it's sold off amc sold off 10 and i hope that my video yesterday, just at least, could shed some insight for why it's so important to understand.

Like i'm. I don't want to talk about the movement right. I want to like i'm sorry for stuttering, but let's remove all emotions aside from this right, looking at amc and treating it just as a day trade right, it's a trade. You know, let's, let's calculate the upside, let's calculate the downside: does it meet our criteria right? Let's focus on that on what actually matters amc is an interesting stock right, but it's safe to say that based off of previous resistance levels here, previous resistance levels here previous resistance levels literally four days ago, and what we experienced yesterday.

So when people were saying ricky, you should not have sold your 6 000 shares at 47.10. Really you expect me to hold a couple hundred thousand dollars worth of amc at this overbought level when the rsi right the macd, ignore the indicators like screw the indicators right. Just looking at previous patterns previous resistance levels as they tend to repeat themselves, but they don't always have to - why would i not have locked in profits right? I've been trading amc? I began loading up on it since it broke above 34 right. I really began focusing on just day trading.

It uh feeling comfortable selling the highs buying the dips selling the hives, all that good stuff, and i decided in yesterday's video to hold 1 000 shares of amc when it was at 4 700 right. So, even though i locked in my profits with my six thousand shares on my fidelity account, i made twenty one thousand dollars on my weeble account. I was up six thousand dollars or five thousand dollars on the day. Something like that, and you know i had 1200 shares 12 or 1300.

I forgot and guess what you know. I the reason i still held those shares is for the possibility if we did break out and break above 50 you're right i didn't want to have. I did want to have some skin in the game that if it did push up and break out, i wanted to partake in that right. I can always buy more.

I can always add more to my position size, even if it does begin to break out. I can always buy more. You can always buy more, but more often than not again all i'm sharing with you is from my experience more often than not when you don't lock in profits right when you don't sell so i bought bought, sold right when you don't sell. When you have a very heavy position, size and you're at an obvious previous resistance level, you're more often than not setting your future self up for failure, i'm not here to talk about movement! It's nothing about that! I'm talking about! Let's treat this as a trade, as you know what it is, as a trade, remove all emotions, remove all opinions as a trade trading at 48 dollars based off of previous resistance levels, previous resistance levels, previous resistance levels, amc has been more bearish than it has been Bullish right, it's very overbought.

Let's look at the our side. Let's look at the macd, let's look at previous highs, so this pullback should not surprise. You should not surprise you one bit on top of this on the five minute time frame. It was beautiful with how it has sold off all day.

I had my 1200 shares and, just as i was about to cut losses for the break below 45 dollars, i began to lock in some of my profits on robinhood and, as this thing began to sell off, i began to load up on it. Amc finding a support right around 43 dollars. I want to share with you why, on the one hour time frame, i'm sorry the 30 minute time frame. My apologies, you guys could see that the last time amc pulled back it validated not always, but it validated the sma line as a support level.

So i'm explaining to you why i'm buying there's a reason behind it so as it sold off instead of just having 1 000 shares. I now have over 2 000 shares. I saw an opportunity to present itself guess what i did ride. The 1 000 shares all the way down, so it sucks, but guess what it would have sucked a lot more.

If i would have kept 6 000 freaking shares and wrote it all the way back down right. That would have sucked a lot more, but guess what i sold when it made sense based off of previous patterns, because i treated it as a trade. No emotions, no opinions. I don't care about what other people have to say.

It's just the trade waited for a pullback based off previous technicals and patterns. It has found a support level here so we'll see if it actually begins to recover. Looking at it on the five minute time frame, it's been very consistent where the ema line has been acting as a resistance level, it's more difficult to see on the uh one minute time frame, sometimes you'll see little breakouts where it trades above ema. This can lead to potential.

You know really bad entries where it still gets rejected. So i find the five minute time frame to be a little bit easier to work with, because it's a little bit more clear when we're actually trading above the ema versus still overall pattern, very bearish right, very consistent, beautiful pattern as it sells off and then now We began to consolidate so i saw this as an opportunity. I saw the pattern on the 30 minute time frame and i'm excited right. The only people that freak out the only people you'll see the people down.

In the comments section, the only people complaining the only people that freak out during market pullbacks or during a stock pulling back are those that were not prepared. It's their emotions being expressed through their irrelevant opinion right. It's the lack of experience - and you know this firsthand. It's the lack of experience for those that don't lock in profits for those that don't resu reduce position size at overbought levels.

It's the lack of experience of understanding when to sell and wait to what and when to prepare for a pullback to buy the dip and ride the recovery. So because of my actions that i did yesterday of selling, it allowed my future self to benefit from this. Pullback again, the only people freaking out are those that are not prepared. We're not here to predict the future we're here to prepare for it.

I'm not here to talk about emotions, i'm not here to talk about your hopes and your desires about amc. I wish you nothing but the best, but, let's be honest, that's you know it's a trade and at the end of the day, it's not a fundamental trade. It's a technical trade where yeah it would have been beautiful to see amc break above 50 dollars a share. You think, with my 1 000 shares that i had in it, you think i don't want amc to go to a hundred dollars.

You think i don't want that, but i'm not going to be dumb. I'm not going to be naive and hold 10 000 shares at 49, when i know that this is a previous resistance level, it's a range where it tends to get rejected. So, instead of being naive, i set myself up to prepare and that's all right. I sold.

I locked in profits yeah if it would have gone up you're right. I could have made more if i would have held, but i'm not always just thinking about what i could have made or what i would have missed out on, but more about. What's the risk involved, instead of always just being obsessed about the profit right, because everyone in this part, that's part of this movement, says that it's not because of the profit. Okay, then allow your actions to be expressed through discipline structure and not through emotion right, because if it's not about the money, then you shouldn't be freaking out when the market, when the stock pulls back.

So you shouldn't be aggravated that it did pull back at the end of the day. No one can predict the future. All we can do is prepare for it make sure that your actions are something that benefit your future self. That's all i wanted to leave you with.

I really do appreciate your guys's time. I hope that you guys enjoyed this overall video and maybe learned something new again friendly reminder. The five minute time frame was a very useful time frame to use when trading amc. If you decide to do so, so i hope that i earned your thumbs up.

Please consider subscribing. If you guys have any questions, please make sure to leave them down in the comment section and if you want to join my live trading session as soon as tomorrow. At market open click, the second link down below, like always, let's make sure that we have the year on a green now, take it easy team.