AMD looks like Wyckoff reversal.

Wyckoff reversal?

Detailed description is that on top of the channel there is all kind of ICT resistance and an order block on top.

Moves in the Cannel are a Wyckoff reversal in my opinion.

Target - 152 - 156 the next 2 weeks.

Note

Shall return into range, is not the break out i think.

Note

Wyckoff reversal in this case is not a classic one if it doesn't take the liquidity above 180. Only than it shall leave the range. I suppose after the Nvidia report today afternoon there will be high volatility and we see the liquidity take above 180, after it could melt down and after having destroyed hope, outside the range down in panic.

The move of yesterday is suspicious and to easy. No reason to sell if nothing changed since Friday when all were horny up.

Trade active

I expect the up impulse of yesterday to go down from current level (182) or to continue even up to 196. This up move can turn into decline any moment sharply this is why today I will increase the short steady up to 196$ to 100%.
Around 201$ we shall consider this strategy to be a mistake. Target is around 140$ if no additional info happens.
Possible loss 7$, possible gains 42$

Trade active

... holding a short from 182$. It is just 20% of the money reserved for the trade.

I read from the chart all the good signs for down:
= the bulls trapped and cant believe it is going down, they are sitting in the move of 22-feb-2024. Bulls don't close already red longs.
= the bears have been fu*ked 22 and 23-feb
= I was not given a chance to load position properly (=a good sign)
= NVDA (pair influencing this "asset") seems to start a correction finally (was lucky to short from 818).
= Wyckoff reversal

The main scenario is continuation down and enjoy the ride with 20% to well outside the range. If it jumps Monday to 178 I will consider increasing position a bit.
(Should the bitch go up again over 183 I load the position as described on 23 feb.)

Trade active

Increased position on 26 Feb @179$ to around 40%
Waiting for down move.

Trade active

A clear move down into 166-168$ somewhere would be a good sign today.
= The deepness of the pierce yesterday was good enough.
= Configuration of the range from 24 feb to now shows ready for further move.
= too much up volume on the pierce is not nice, but we need some crowd to execute the SL we to exit the range down. )
I hold position.
The scenario on this stage for me is broken only if price over 184$, not sooner.

Order cancelled

The movement is not progressing as expected (sharp down).
Instead I watch the flag from the up move 21 and 22 feb.

I took the money because the scenario is at substantial risk now.

I am not going to update this idea any more.
Don't loose money! ))

vladimirvonhalle

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vladimirvonhalle