One of the attributes of technical analysis is that it offers consistent tools to define and manage risk. The current SPX daily chart offers good illustration.
-The current rally is maturing at a significant resistance level created by prior support and resistance levels (February, March, and June). I think of this as a polarity zone.
-This is the polarity...
After a longer-term downtrend, I expect a strong bounce from the weekly hold level - 0.96. It seems that we are targeting our base of a range, which give us great opportunity to buy Fantom.
FIRST ENTRY - 0.96 - 0.98
SECOND ENTRY 0.76900
SL - 1W CANDLE CLOSE UNDER 0.76
TARGETS : 1.18
1.32
1.37
GOOD LUCK !
TRADE ON YOUR OWN RISK, USE CORRECT POSITION SIZING.
Before the major gap of march 24, AMD wasn't making new higher high's, supply was strong enough in order for the price to not break the orange resistance you can see on the price chart, this major gap broke that resistance and continued to make new higher high's, then the decreasing volume peaks along with various divergences on oscillators showed sign of a...
Here's a quick lesson on how to look at trading ranges with TSLA and FB as an example. Expansion to contraction is an excellent tool to help you go a little further on your trading journey.
Learn more by joining the CTP Group. We will teach you how to use charts to do a top down approach on any stock in under 5 minutes just for joining. Look to get 1-4 emails...
![AMD: Potential Change In Polarity [AMD]](https://s3.tradingview.com/e/EfLTab0X_mid.png "Potential Change In Polarity [AMD]")
