$AMD Chart Analysis into tomorrow
THIS IS PURELY EDUCATIONAL AND ENTERTAINING MATERIAL
Personal:
AMD looks to be on the verge of a breakout. Breaking through the daily trend-line would be the first pivot into testing previous HOD (high of day) @ 106.86. & A break on the previous HOD would likely bring us the possibility of pushing towards the .382% fib @ 108.29. A 5 min candle close above either of these pivot points could be used to buy call options. Obviously, the longer the timeframe, the generally more "safe" it would be considered to enter these options. A 15 min candle close below pivot level can be used as a stop-loss. As mentioned above a 5/15 min candle (depending on one's own risk and the average time for one to take-profit) close above can be used to re-enter into a contract after exiting a position. In my opinion it is better to have a stop loss and a re-entry, than to average down on options.
A break down of the immediate trend-line under the candles can be used to scalp put options.
A break down (with a 15 min candle close below) of the previous day's low positioned @ 103.89 can be used to play puts on a slightly longer timeframe.
Side notes:
It is considered best to use a 15min candle rather than a 5min candle close below a pivot after breaking above to minimize losses.
Personal:
AMD looks to be on the verge of a breakout. Breaking through the daily trend-line would be the first pivot into testing previous HOD (high of day) @ 106.86. & A break on the previous HOD would likely bring us the possibility of pushing towards the .382% fib @ 108.29. A 5 min candle close above either of these pivot points could be used to buy call options. Obviously, the longer the timeframe, the generally more "safe" it would be considered to enter these options. A 15 min candle close below pivot level can be used as a stop-loss. As mentioned above a 5/15 min candle (depending on one's own risk and the average time for one to take-profit) close above can be used to re-enter into a contract after exiting a position. In my opinion it is better to have a stop loss and a re-entry, than to average down on options.A break down of the immediate trend-line under the candles can be used to scalp put options.
A break down (with a 15 min candle close below) of the previous day's low positioned @ 103.89 can be used to play puts on a slightly longer timeframe.
Side notes:
It is considered best to use a 15min candle rather than a 5min candle close below a pivot after breaking above to minimize losses.
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.