AMD technical bounce set-up

NASDAQ:AMD   超微半导体公司
technical buy

-61.8% Fib retracement
-testing 9 month uptrend
-double bottom

-Risk/Reward : 5
sell if AMD closes below uptrend
take profit or watch closely when AMD test 13.30

If AMD breaks the reversal zone, I would add to my current position and use a new stop loss below support

Post thoughts and comments below!

I like your work. I don’t have a lot of faith in that trend line tho. I see others that the dowtrend sliced through with no trouble. But this downtrend may be pooped out and ready to reverse soon but it’s going to need a catalyst or a 200 ma type support. I don’t buy fibs but keeping an eye with you.
JakeSchoenleb brucechunmecom
@brucechunmecom, Thank you for the reply! You can see this trade was a success and hit my take profit before the trend-line was invalidated. My mark up of AMD now would look much different. Fibs are a great way to support reversal trades. 61.8% being the best ratio in terms of reversal and high RR ratios. I am currently learning Elliot wave which use fib retracements and extensions to map out where the stock is in a macro and micro cycle. I'll post more ideas soon!
Nice, have the view
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