AMD 12/9/2022
Updated
AMD
AMD has been very kind to me this yr. It has been an easy chart to read and it been a very profitable one.
See link below for previous AMD trades
AMD Daily chart analysis
We’re going to have to rewind back to the summer, July 2022, when price made a lower low at around 74.25.
At this same place, price found support and rallied to 100 on a pullback.
The rally was short lived. Price was unable to make a higher high and was destroyed and pushed all the way down to about 58.45.
Price was able to find support at 58.45 and bounced on a pullback to previous support at 74.25.
Price has been unable to stay above 74.25 and looking to turn this previous support into resistance. Here we also have MACD crossing below its signal. This is my cue to enter trade short.
With price still in a downtrend, pulled back to possible resistance area and MACD crossing below its signal, I will be entering trade short.
Entry: 70.00
Stoploss: 86.64, -23.77%
Target: 40.56, 42.06%, 1.77 RR ratio
AMD has been very kind to me this yr. It has been an easy chart to read and it been a very profitable one.
See link below for previous AMD trades
AMD Daily chart analysis
We’re going to have to rewind back to the summer, July 2022, when price made a lower low at around 74.25.
At this same place, price found support and rallied to 100 on a pullback.
The rally was short lived. Price was unable to make a higher high and was destroyed and pushed all the way down to about 58.45.
Price was able to find support at 58.45 and bounced on a pullback to previous support at 74.25.
Price has been unable to stay above 74.25 and looking to turn this previous support into resistance. Here we also have MACD crossing below its signal. This is my cue to enter trade short.
With price still in a downtrend, pulled back to possible resistance area and MACD crossing below its signal, I will be entering trade short.
Entry: 70.00
Stoploss: 86.64, -23.77%
Target: 40.56, 42.06%, 1.77 RR ratio
Note
i love AMD!
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