What a day!
For AMD, the day started with a breakthrough of the supporting line of the "Descending Triangle", I described in Part 2. After the bearish trap, the price moved back even into the pattern! After this, there has been a retesting of the magenta trendline, which slightly failed!
Now, we are probably in a shorttime "Falling Wedge" (bullsh pattern). If this pattern will be broken, it will end up with an "Rectangle". -On a time frame, the end of the correction will not be far away.
For AMD, the day started with a breakthrough of the supporting line of the "Descending Triangle", I described in Part 2. After the bearish trap, the price moved back even into the pattern! After this, there has been a retesting of the magenta trendline, which slightly failed!
Now, we are probably in a shorttime "Falling Wedge" (bullsh pattern). If this pattern will be broken, it will end up with an "Rectangle". -On a time frame, the end of the correction will not be far away.
Note
IF this "Falling wedge" would be broken to the downside,then it would end up in a "Rectangle"...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.