My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks, crypto, options and indices🖥️
I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise. This is how you build real long term wealth!
In today's anaylsis I want to take a look at the bigger picture on Broadcom.
Over the past 12 months Broadcom stock rallied more than 120% towards the upside, following the major hype in the whole semiconductor and AI sector.
After this recent pump it is quite expected that we will see a short term correction and if Broadcom retests the previous all time high at $630, this will be a perfectly bullish setup.
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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.