Look for support and resistance lines to help with daytrades

11 sept 2023

I'm looking for a DT entry here on AMD but instead of entering prematurely and hoping it goes up, I'm waiting for bullish confirmation that will happen if bulls reclaim the resistance and use it as support. Meaning, it should shoot above resistance, then dip down to that line as SUPPORT. That would be my ideal entry.



Watch to see what happens here. Good learning experience even if you are not in the trade. You are welcome to use volume and moving averages to assist you with your entries.

AMD

11 sept 2023

Operación cerrada: objetivo alcanzado

First target reached on the AMD trade. As indicated in the chart, added at 103.50 + retest of that support. It continued to 104.50 for a cool +20%. You can see the trade unfold in that chart above by clicking play.

11 sept 2023

Nota

I wouldn't say "trade closed" necessarily but that was the only option, still holding some for a max move.

12 sept 2023

Nota

One day later, you can replay the bars and see the outcome of this trade. Thanks for reading.