AMD 6/12/2022
Updated
AMD
Adding to an existing trade.
Please see link below to original trade analysis:
Daily chart analysis.
Price broke thru the neckline since my last analysis.
It has since pulled back in form of a bear flag.
Price is looking to turn previous Support into Resistance. Once this is done, we will see Bears attack and push to make lower lows and confirm downtrend.
We’re currently at the support area of the Bear flag. Ideally, I would’ve liked re-entry at the resistance area of Bear flag but because of the overall strong bearish conditions I will be more aggressive in my entry.
Price has also rejected the resistance are of bear flag several times now, I’m expecting a break down and confirmation of bear flag soon.
Entering trade short.
Entry: 94.89
Stop loss: 112.15
Target: 73.90, +22.12%, 1.22 RR ratio
Adding to an existing trade.
Please see link below to original trade analysis:
Daily chart analysis.
Price broke thru the neckline since my last analysis.
It has since pulled back in form of a bear flag.
Price is looking to turn previous Support into Resistance. Once this is done, we will see Bears attack and push to make lower lows and confirm downtrend.
We’re currently at the support area of the Bear flag. Ideally, I would’ve liked re-entry at the resistance area of Bear flag but because of the overall strong bearish conditions I will be more aggressive in my entry.
Price has also rejected the resistance are of bear flag several times now, I’m expecting a break down and confirmation of bear flag soon.
Entering trade short.
Entry: 94.89
Stop loss: 112.15
Target: 73.90, +22.12%, 1.22 RR ratio
Trade closed: target reached
Target: 73.90, +22.12%, 1.22 RR ratio
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