Trader_Joe_Lee

AMD long/short Harmonic Patterns trading strategies

NASDAQ:AMD   ADVANCED MICRO DEVICES, INC.
Hey AMD Fans I'm here again!

AMD got both bullish and bearish Gartley patterns wherever it goes, so it's easy to make trading plan at this spot.
For the long part, it's obvious that it will have huge amount of buy orders near 10.00, which can also be another combination of this trade;
For the short part, 13.50 will be the main resistance before it makes new high.

Also, this kind of trading plan has an important implication --Never predict.
I have no preference on whether it will go up or down from here, but wherever it goes, I'll have a plan to trade.

Another implication is the 3rd and 4th trades: if the patterns failed, which made a new high/low, I'll also be willing to chase the buying/selling.


Let's see how it goes!
Comment: The bullish one is on the corner on some systematic risk, so waiting for a solid reversal sign is still necessary for this trade!
Comment:

here we got an inside day here, it would be a nice confirmation entry if it can break to the upside!
Comment: the inside day failed and it formed a new double bottom instead! still a potential entry~
寓交易于乐,被交易耽误的音乐人Trader_Joe_Lee
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When do you expect the reversal? 9 a 10?
Reply
@Smirry, based on this chart it will be near 10.00, while there's a little difference between "willing to wait for bullish reversal sign" and "expect a reversal" , I'm pretty much the former and I never try to predict the market though =)
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