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.
Cheers,
Ivan Labrie.
Trade geschlossen: Stop wurde erreicht
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Stopped out, was a tight entry, small risk size, so it was worth a shot.
Rising wedge breakup! LOL...
Normally this is only unique to bitcoin
IvanLabrie
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There was no wedge...:)
IvanLabrie
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(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)
Trader-Mick
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That's some RR!!!
IvanLabrie
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Let's see if the stop holds, if it just goes down then I'll be proven right...would be a nice trade.
Normally this is only unique to bitcoin