Publishing my first idea as I am new to Analysis and ichimoku.
I believe a short term opportunity exists in AMD for a short trade:
On the 4 hr chart we can see the price approaching the cloud and acting as heavy resistance (thicker cloud thick resistance)
MACD is curling over
Stoch RSI was pretty much maxed out and crossed
Our lagging indicator has hit resistance at the signal line and is following it down.
On the daily chart:
Base line (orange) acting as resistance
lagging indicator turned fully down
stoch rsi turned down
This idea will be invalidated if:
Daily - Signal line crosses base line on daily/ price breaks above base line
Thanks for reading and would appreciate your feedback
I believe a short term opportunity exists in AMD for a short trade:
On the 4 hr chart we can see the price approaching the cloud and acting as heavy resistance (thicker cloud thick resistance)
MACD is curling over
Stoch RSI was pretty much maxed out and crossed
Our lagging indicator has hit resistance at the signal line and is following it down.
On the daily chart:
Base line (orange) acting as resistance
lagging indicator turned fully down
stoch rsi turned down
This idea will be invalidated if:
Daily - Signal line crosses base line on daily/ price breaks above base line
Thanks for reading and would appreciate your feedback
Comment:
Good time to close short position
Levels to watch for: $10 level is a big psychological resistance, if that breaks today we can look for a move down to the next support at $9.80