AMD Short setup $29.8 to $26ish. Fib/Horiz resistance
Updated
Side note, The magnitude of the bounce the US economy has had since the bottom in DEcember has been insane and unprecidented. I've never seen a bottom not get tested and just fly up vertically. Especially with poor GDP estimates and economic outlook data. I was pretty heavily short back in Feb, so that hurt a bit, but all you can do is learn from your mistakes and keep moving.
This is a self explanatory chart again. We're at the 0.786 fib retracement, and we're at a previous point of resistance from September 05 2018 at $29.94. We just went up almost 12% today, and it looks like a good time to pullback a bit in the next week. My stoploss is $31.
This is a self explanatory chart again. We're at the 0.786 fib retracement, and we're at a previous point of resistance from September 05 2018 at $29.94. We just went up almost 12% today, and it looks like a good time to pullback a bit in the next week. My stoploss is $31.
Trade closed: target reached
Another solid win here. I also reshorted at $29 again on May 28th because I felt the technicals were stronger than the BS news. Closed at 28.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.