I was asked to chart AMTd. I’m not a big fan of this chart. Back when I had a postion was around 2.23 /2.14 aand I was stopped out with the loss of 210 area which was a great stoploss Becuase we contiued down.
I do see a potential support area in this range a bit to soon to call a double bottom as it’s only being seen on the 2 hour. A daily or 4
Hour would be more powerful.
There is some potential uptrending support here as this would make the third touch. If we lose and close a daily candle below 1.34 cents. Switch over to 1 hour to see if that trend line gets backtest as reistance and rejects. If
It does then you want to close the postion and run. Otherwise playing it to the upside would be as follows
Either buy the support line around 1.35 and close if daily candle body closes below 1.34 ish or wait for a 4 hour candle body to close and open flat and close on top of 1.47$. This entry would be safest and w
Could run it up towards 2.34. I’m not to bullish on this right now but could watch over coming days and see what happens.
I do see a potential support area in this range a bit to soon to call a double bottom as it’s only being seen on the 2 hour. A daily or 4
Hour would be more powerful.
There is some potential uptrending support here as this would make the third touch. If we lose and close a daily candle below 1.34 cents. Switch over to 1 hour to see if that trend line gets backtest as reistance and rejects. If
It does then you want to close the postion and run. Otherwise playing it to the upside would be as follows
Either buy the support line around 1.35 and close if daily candle body closes below 1.34 ish or wait for a 4 hour candle body to close and open flat and close on top of 1.47$. This entry would be safest and w
Could run it up towards 2.34. I’m not to bullish on this right now but could watch over coming days and see what happens.