Daily -
Long term uptrend respecting 200ema
Price entered Accumulation Phase ranging side-ways between Sept. ’20 – Jul. ’21 finding Support @ $74 and Resistance @ $94.
Price breaks out end of Jul. ’20 to high of $122 then pulls back in form of a Bull Flag. Price then finds Support from 50ema where it bounces and continues Uptrend. Price has now proven to have strengthen itself going from respecting 200ema to 50ema.
The bounce from 50ema then sent Price to highs of $164 followed by a sharp pullback. Price is currently at 50ema which was previously acting as Dynamic Support.
The previous 2 entries for AMD were found at Support Levels ($74 & 50ema) with an oversold Stochastic reading. We now found ourselves at a previously respected Support level in 50ema with an oversold Stochastic reading. This will be my “BUY” signal. Will look at lower time frame for entry.
1HR chart -
Ranging sideways between $135 – $160.
Price has fell under 200ema but has found Support @ $135. On 12/6/21, price formed a Bullish pinbar @ support before topping out at $144 where price was shot back down to Support $135. We are now back at Support and currently looking at the possible formation of a double bottom pattern.
Price is currently at an area of value. Here we have a Hammer candlestick signaling reversal and we also have an oversold Stochastic reading and MACD is about to cross signal. These are all bullish signals the price will bounce. The MACD crossing its signal, should provide the Price the momentum to expand and bounce off support. Price also finds itself at a support level in both Daily and 1hr chart. There is a lot of buyer pressure at the current area of value. I will enter trade
Trade -
Based on the long term Uptrend on Daily chart, I will be entering LONG on this trade. The price has been respecting 50ema on both Daily and 1hr. Will use 50 ema on 1hr chart to exit if trade does not get stopped.
Entry: 138.80
Stop loss: 132.40(-4.61%)
Exit: Stop Loss or trail 50ema on 1hr chart
Long term uptrend respecting 200ema
Price entered Accumulation Phase ranging side-ways between Sept. ’20 – Jul. ’21 finding Support @ $74 and Resistance @ $94.
Price breaks out end of Jul. ’20 to high of $122 then pulls back in form of a Bull Flag. Price then finds Support from 50ema where it bounces and continues Uptrend. Price has now proven to have strengthen itself going from respecting 200ema to 50ema.
The bounce from 50ema then sent Price to highs of $164 followed by a sharp pullback. Price is currently at 50ema which was previously acting as Dynamic Support.
The previous 2 entries for AMD were found at Support Levels ($74 & 50ema) with an oversold Stochastic reading. We now found ourselves at a previously respected Support level in 50ema with an oversold Stochastic reading. This will be my “BUY” signal. Will look at lower time frame for entry.
1HR chart -
Ranging sideways between $135 – $160.
Price has fell under 200ema but has found Support @ $135. On 12/6/21, price formed a Bullish pinbar @ support before topping out at $144 where price was shot back down to Support $135. We are now back at Support and currently looking at the possible formation of a double bottom pattern.
Price is currently at an area of value. Here we have a Hammer candlestick signaling reversal and we also have an oversold Stochastic reading and MACD is about to cross signal. These are all bullish signals the price will bounce. The MACD crossing its signal, should provide the Price the momentum to expand and bounce off support. Price also finds itself at a support level in both Daily and 1hr chart. There is a lot of buyer pressure at the current area of value. I will enter trade
Trade -
Based on the long term Uptrend on Daily chart, I will be entering LONG on this trade. The price has been respecting 50ema on both Daily and 1hr. Will use 50 ema on 1hr chart to exit if trade does not get stopped.
Entry: 138.80
Stop loss: 132.40(-4.61%)
Exit: Stop Loss or trail 50ema on 1hr chart
Trade closed: stop reached:
Stop loss triggered: 132. 40 (-4.61%)
Trade active:
Price rejection @ 50ema. re-entered pullback.
Reentry: 140
Exit: 129.65
Reentry: 140
Exit: 129.65
Trade closed: stop reached:
stopped: 129.65