Advanced Micro Devices - Is The Future 🌐

19 בספט׳ 2023

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

AMD has been overall bullish trading inside the rising wedge pattern and it is currently in a correction phase approaching the lower bound / blue trendline.

Moreover, the zone 100 - 105 is a strong support.

🏹 So the 100.0 round number is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.

As per my trading style:
As AMD is sitting around a rejection zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break, and so on...)

Moreover, for the bulls to take over long-term again for the next impulse to start, we need a break above the last major high in gray around 112.5

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich