AMD reversal on the weekly - Turtle Soup Buy (Rashke)
With a close above previous 20 WEEK lows AMD has set up a power reversal pattern on the WEEKLY chart. Stop = prior 20 week lows (9.70).
Comment:
Emphasizing that this trade is cancelled below 9.70.
Comment:
As AMD rises out of the monthly bullflag (see prior post) caution at key pivot 15.65 (previous weekly high). This would set up a Turtle Soup Sell on the WEEKLY chart. Same rules. Note: Key pivots are often traded through repeatedly.
Comment:
AMD monthly bullflag objective met (x=y). A close below 27.30 sets up a turtle soup sell on the weekly.