Market opened down. Major earnings announcements all getting punished. Fed announces rates to stay. Market stayed red. Indexes down more than usual.
AMD Daily Chart
Open down in lower range of 7 market days back. Green bar. Channel breaks down.
AMD 15 Minute Chart
Earnings dip overnight. Price far from 200 SMA. Price bounced to prior day later dip level and rejected at the end of the day.
AMD 3 Minute Chart
The open’s downward fail led to a reverse measured move. Next low was higher than prior low. Price followed upward 50 SMA until rejecting at 500 SMA at the end of the day.
Strategy
Long only. Buy under the 15-minute 200 SMA.
Watchlist
AMD
Happy trading.
(This post is for entertainment purposes and is not investment advice. Most people lose money doing this.)