Good day everyone, quick review at AMD.
Overall AMD is on a strong uptrend on weekly timeframe however now its struggling on the current 23~24 zone, lack of demand i say, see the volume decreasing on the attempt to go up?
So what to expect?
The big operators might retrace the price a little to shake weak hands and therefore resume the up waves.
Whats the strategy?
Wait for a retest of the price on the 21~20 zone and a clear rejection of it before going long.
Primary support stands at 18.90 level and then 16.50 (for this support to break IMO it must happen some catastrophe/crysis)
Primary targets are 25.0 and then 30.0 level.
For now we wait the re-test of the 21~20 zone, never try to anticipate the market.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Overall AMD is on a strong uptrend on weekly timeframe however now its struggling on the current 23~24 zone, lack of demand i say, see the volume decreasing on the attempt to go up?
So what to expect?
The big operators might retrace the price a little to shake weak hands and therefore resume the up waves.
Whats the strategy?
Wait for a retest of the price on the 21~20 zone and a clear rejection of it before going long.
Primary support stands at 18.90 level and then 16.50 (for this support to break IMO it must happen some catastrophe/crysis)
Primary targets are 25.0 and then 30.0 level.
For now we wait the re-test of the 21~20 zone, never try to anticipate the market.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
Price looks like rejection on the zone so far.
Comment:
Good rejection indeed, price action looking better now
Comment:
Hah, nice rally, hope you guys picked it up, price action and volume still looks good, anyway its good to reduce position and raise s.l now =)