As we continue the slow grind to overextended conditions on the upside, I have been looking for new short ideas to take advantage of a possible flush. Markets have yet to have a significant pullback which is needed to continue a strong bull trend. AMD was one of those short ideas where a rising wedge on the 30m chart is forming. What I like about this AMD short idea is that price is being rejected right at the 50DMA. Throughout this bear trend, AMD has repeatedly rejected the 50DMA. If AMD is to go lower, now would be the most opportune time.
Entry - 47.53
Stop Loss - 48.60
Target - 44 and 42
Entry - 47.53
Stop Loss - 48.60
Target - 44 and 42
ความคิดเห็น:
Nice move past first target. Took 1/4th off at 43.25. Moved stop loss to 47.01
ความคิดเห็น:
Moved stop loss to 44.90.
ความคิดเห็น:
Took off another 1/4th at 41.85. 2nd target met. AMD has some serious relative weakness going on right now. Noticed a lot of the recent relative strength name have weakened significantly these past few days. This could be a sign markets plan to go lower.
ปิดการเทรด: ถึงเป้าหมายการทำกำไร:
Closed out this trade at 41.90. Great 3R trade.
ความคิดเห็น:
Sorry meant 44.90 @ stop loss.