AMD: Rising wedge and extremely overbought

NASDAQ:AMD   Advanced Micro Devices Inc
There's an interesting setup here in the AMD daily chart .
After rallying off a base and shooting high, far from the earnings' levels, AMD is offering an interesting short setup.
It's worth considering a small entry here, simply based on the size of the target vs the stop loss.

The chart shows a potentially complete rising wedge or terminal triangle, which would imply a sharp selloff to commence soon, and reach the starting point of said structure in 1/4 of the time it took to form it.


Ivan Labrie.
Trade geschlossen: Stop wurde erreicht: Stopped out, was a tight entry, small risk size, so it was worth a shot.
Kommentar: http://www.overclock.net/t/1585148/the-h...

This is why I got stopped...
Rising wedge breakup! LOL...
Normally this is only unique to bitcoin
IvanLabrie LastBattle
There was no wedge...:)
IvanLabrie IvanLabrie
(This is why I think in general, trendlines and 'diagonal' type thinking is useless...rising/falling wedge can be very powerful but hit rate for them is very low)
That's some RR!!!
IvanLabrie morshedul.sazid
Let's see if the stop holds, if it just goes down then I'll be proven right...would be a nice trade.
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