Trading AMD through the lens of Accumulation–Manipulation–Distribution using TPO reveals the underlying intent of smart money. During accumulation, AMD often consolidates in a tight range where the TPO profile flattens, showing time and volume building near the lows — a sign of quiet institutional buying. As price breaks out, manipulation sets in: false moves beyond value areas with single prints or thin auction zones signal traps or tests. Eventually, in distribution, AMD shows signs of exhaustion — price may rise but value doesn’t follow, and the TPO shifts become erratic. This marks the shift before markdown, where time spent at highs masks a lack of true demand.
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