AMD has just started an extended 5th wave of a regular 5th wave up to 35 USD. I believe that tomorrow we will see a slight dip either during pre market or right at opening and then a significant push up to 35 USD. RSI has also bounced off trendline.
AMD 4h Candles: (circled region) We can see that the ema (purple) is also about to cross over the ma (black) on 4h candles.
Disclaimer: This is my prediction and I am posting for education purposes only.
Comment
⋅
Rising triangle has been spotted on 15m candles: Since AMD is in an upwards trend, at the end of the triangle it will breakout upwards.
Good to see an Elliottician. In your 4 hour chart, How is it possible that (ii) can go below (i) Dec 24th? I am counting your (ii) as (C) completion.
UnknownUnicorn3924495
⋅
@kumarosu, That is what I also had previously. The problem with that, from my point of view, is that the first wave would be massive and I don't see AMD going that high based on weekly candles. Then again I'm most likely incorrect but I would rather expect AMD to go lower than it is than expect it to go higher since I am long. As for the 2nd wave going below the 1st, it isn't common, but there are some exceptions with EW, there can also be failed 5th waves that end below 3rd etc, or wave B that goes higher than A. I'm just playing it safe though which is why I counted it this way.