AMD 40% SHORT (You don't want to miss out on this)
Hey everyone, after a thorough analysis of AMD, I have concluded that a 40% motive wave is on its way, sending the price from 18.73 all the way down to at least 11.21 but don't be surprised if it hits 8.00! I would strongly suggest laddering out of the position to maximize your profit since an exact target has not been determined.
I am so certain of this move because we have just broken out of what appears to be a fourth wave triangle and failed to rise above the resistance the next day. From this, it is safe to assume that the next wave will be a fifth wave impulse into the wave four territory of the larger trend.
For the stop loss, I would recommend setting it at 20.75 because any price higher than this will make the current wave count invalid.
Feel free to message me any questions, comments or concerns regarding my ideas. Happy trading!
I am so certain of this move because we have just broken out of what appears to be a fourth wave triangle and failed to rise above the resistance the next day. From this, it is safe to assume that the next wave will be a fifth wave impulse into the wave four territory of the larger trend.
For the stop loss, I would recommend setting it at 20.75 because any price higher than this will make the current wave count invalid.
Feel free to message me any questions, comments or concerns regarding my ideas. Happy trading!
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This is just a link to the new trade setup and plan
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Hey guys, this week AMD has hit some very high points, which made me reassess the wave count. The idea that a triangle is forming is still possible, but it is a far bigger triangle than I had originally thought about. By the end of this week, we have seen a failure to break above point a and bearish divergence on the one hour RSI. Any price action above wave A would be very bad and would require the chart to be looked at again. Going into the next trading week, I am anticipating a wave D to the 19-18 range. Here is my updated wave count and chart
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As you can see from this updated wave count, we are starting the wave C of the greater zigzag pattern. I am anticipating the low to hit somewhere around January 9th. This is just a rough estimate, no guarantees, but I highly doubt that there it will hit the low before this date.
On the chart, there is a trend line that shows the path AMD will generally follow and the time it will take to do so. For a zigzag correction, we can assume that wave C will be of equal length to wave A. So I drew the trendline from point "0" to point "A" and dragged it to the end of B. This line ends on January 9th which supports the original estimate.
I will keep the pattern updated, but for now, it seems like a waiting game. So sit back, relax and enjoy the calm before the wicked and wild short selling storm.
On the chart, there is a trend line that shows the path AMD will generally follow and the time it will take to do so. For a zigzag correction, we can assume that wave C will be of equal length to wave A. So I drew the trendline from point "0" to point "A" and dragged it to the end of B. This line ends on January 9th which supports the original estimate.
I will keep the pattern updated, but for now, it seems like a waiting game. So sit back, relax and enjoy the calm before the wicked and wild short selling storm.
I could see us bouncing up and down in this triangle for at most a month, but probably around 2 weeks. I would suggest not entering a position if possible until more confirmation on the direction of the trend has been obtained. For example, any cross of the $17 or $16 resistance would indicate that the price is going to keep falling. For now, we will wait.