AMD: A Simple Swing Trade Setup in the Current Bearish Phase
Since early 2022, AMD has entered into a bearish phase, consistently making lower lows. This gives us high probabilily swing trade opportunities because this stock has persistent trend. Our plan is very simple; we will simply wait for a pullback because we can clearly spot that AMD follows a well-defined pullback structure. It is important not to pick tops and bottoms if the price is in a trending environment.
Currently, the price is in the bearish impulse stage, making a new lower low. We have no immediate trading action for now. Our road map is to enter sell positions from the retest of 102 level. We can observe from many occasions that several retests of previous key levels occurred before price reaching a new level. From 102 level, we will aim for the previous low.
Currently, the price is in the bearish impulse stage, making a new lower low. We have no immediate trading action for now. Our road map is to enter sell positions from the retest of 102 level. We can observe from many occasions that several retests of previous key levels occurred before price reaching a new level. From 102 level, we will aim for the previous low.
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