AMD a possible Momentum Reversal, plan to long at 48

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Condition: If SPY could conquer the 290 quickly, which shows SPY in V reversal pattern.
If SPY is in side way or down trend, don't take this trade.

AMD is relatively stronger than SPY. It will have better chance to go up.
AMD price must go above 52 first, and down below 48; If AMD cannot pass 52, the next down target is 36 and 32 (two fresh demand zones below current price.)

Confirmation Entry: Stop buy 48 (Above SMA8)
Stop: 46 (under D)
Target 1: 55 (next fresh supply zone) risk:reward=1:3.5
Target 2: 60 (ABC pattern: C_leg) risk:reward=1:6
Pesanan dibatalkan
SPY Gap down to lower low.
abcpatternChart PatternsTechnical IndicatorsreversalpatternsmaSupply ZoneWave Analysis

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