Price has managed to slowly continue grinding higher towards the target box. I have no reason at this time to believe it won't make it into the target area. MACD is slowly building bearish divergence setting up a move lower in the near future.
The question is what comes after this move higher. Is it the minor A of intermediate (B), or is it just another wave 4 of C of (A)? Unfortunately, we won't know for some time, I think. The key details to answer this question will come during the next move lower.
Should we still be in (A), then we will be visiting the $60's during the next move lower. If we're in (B) already, then the $82-$95 area will be our target depending on how high this current move takes us. Patience my friends. This job takes patience. AMD, IMHO, just isn't a good investment currently. Is there money to be made? Absolutely, but at what risk? When the pattern becomes this muddy and iffy, I stay out on the sidelines. There are plenty of other avenues to trade. Currently, I am watching Coinbase and Tesla the most. Coinbase, if I am right, will have a BIG opportunity coming up in the next few weeks. I'm talking $100+ PER share. Why would I waste my time taking undue risks on a shaky pattern? If you use common sense, it is a no brainer.
The question is what comes after this move higher. Is it the minor A of intermediate (B), or is it just another wave 4 of C of (A)? Unfortunately, we won't know for some time, I think. The key details to answer this question will come during the next move lower.
Should we still be in (A), then we will be visiting the $60's during the next move lower. If we're in (B) already, then the $82-$95 area will be our target depending on how high this current move takes us. Patience my friends. This job takes patience. AMD, IMHO, just isn't a good investment currently. Is there money to be made? Absolutely, but at what risk? When the pattern becomes this muddy and iffy, I stay out on the sidelines. There are plenty of other avenues to trade. Currently, I am watching Coinbase and Tesla the most. Coinbase, if I am right, will have a BIG opportunity coming up in the next few weeks. I'm talking $100+ PER share. Why would I waste my time taking undue risks on a shaky pattern? If you use common sense, it is a no brainer.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.