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
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@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!