IvanLabrie
Short

AMD: Rising wedge and extremely overbought

NASDAQ:AMD   Advanced Micro Devices Inc
There's an interesting setup here in the AMD             daily chart .
After rallying off a base and shooting high, far from the earnings' levels, AMD             is offering an interesting short setup.
It's worth considering a small entry here, simply based on the size of the target vs the stop loss.

The chart shows a potentially complete rising wedge or terminal triangle, which would imply a sharp selloff to commence soon, and reach the starting point of said structure in 1/4 of the time it took to form it.

Cheers,

Ivan Labrie.
Trade closed: stop reached: Stopped out, was a tight entry, small risk size, so it was worth a shot.
Comment: http://www.overclock.net/t/1585148/the-holy-crap-amd-is-going-to-be-able-to-use-samsungs-fabs-discussion-thread

This is why I got stopped...
That's some RR!!!
Reply
IvanLabrie PRO morshedul.sazid
Let's see if the stop holds, if it just goes down then I'll be proven right...would be a nice trade.
+1 Reply
Rising wedge breakup! LOL...
Normally this is only unique to bitcoin
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IvanLabrie PRO LastBattle
There was no wedge...:)
Reply
IvanLabrie PRO IvanLabrie
(This is why I think in general, trendlines and 'diagonal' type thinking is useless...rising/falling wedge can be very powerful but hit rate for them is very low)
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