AMD at a crucial place. This looks like a broadening pattern where a #6 will need to be satisfied over coming weeks and months. A very good place for a top or breakout. 80% of the time I've seen these moves in AMD, it gets destroyed soon after. A lot of impulse and hype buying on the 'news'. This is a classic place smart money takes profit. Therefore, I cannot help but think: WATCH OUT NOW!
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resistance on upper TL right around 30. I wouldn't be surprised to see a spike back up. Patterns are just patterns and they can break in either direction. For all we know, AMD could be at 14 or 16 in the next year:
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*correction: for all I know, AMD could be at 60 or 14 in a years time.ملاحظة
glad I waited patiently for this short- Now is the hard part for me- how long can I hold? ملاحظة
might come up to 28.50. Good place to evaluate who's in control: ملاحظة
I'm allowing a large 'short' area for myself (red area).. even as high as a double top at previous high. Patience is key. But the history in AMD shows a serious respected downtrend at this level as seen on weekly chart (2nd chart):ملاحظة
some short term upside here? I wouldn't trust it. Larger renko pulling down:ملاحظة
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I see another 9% drop here. I'll use blue trend as decision point.ملاحظة
has the appearance of a bear flag: ملاحظة
amd touched my short term target today. Considering closing out for potential rally or holding on in case it breaks/crashes. what to do ملاحظة
I did in fact close out most of my shorts in 26's before I left for vacation. I held two calls and a few puts as a strangle for a big move. Today, that finally paid off. I'm taking profit on the calls and will now wait for a possible confirmation of a top on the upper trend line again or a fakeout above.. AMD could double top at the prev. high. It's getting back in my 'short territory' but I'm going to wait carefully and slowly increase position.. I've seen a lot of bullish looking fake outs go higher than expected ملاحظة
looking shorty again: 
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