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A Home Run In AMD


On Thursday just after the open Hit and Run flagged that AMD was coming out of a Holy Grail/180 buy setup.

A Holy Grail is a pullback/consolidation at the 20 day moving average.

On Tuesday AMD traced out a 180 long signal: it closed near session lows on Monday and at session highs on Tuesday. Wednesday it traded in a narrow range inside day.

Thursday’s gap open telegraphed it was coming out of a one month Cup and Handle

The up opening gap above the 180 strike coupled with an Opening Range Breakout (ORB) signaled an OpEx Pinball play was on the table.

This is when a stock is driven to a strike into/on a Friday option expiration.

An Opening Range Breakout was triggered on trade above the first half-hour high at 183.60 clearing the deck for a drive to the 185 strike and all time high.

The explosion over 185 opened the door to the 190 strike.

The first intraday pullback toward the Opening Range Breakout set up a follow on buy.

Sealing the deal for the explosive move was the Square of 9 Wheel which shows that Feb 29/March 1 squares-out with 192/193.

Feb 29/March 1 blue

192/193 red

AMD struck a high of 193 on Thursday, closing at 192.53.

You can’t make this stuff up.

I’ve been using this Time & Price Calculator to trade for over 20 years and I never cease to be amazed at the Wheel’s ability to hit pay -dirt like it did with AMD on Thursday.

It is truly the most elegant trading tool on the planet.

Anyone can get into a trade, the art of trading is knowing when to exit with maximum gains.

This is the benefit and beauty of the Square of 9 Wheel: it gives traders the confidence to pull the trigger with the knowledge that the potential reward far outweighs the risk.

At the end of the day, the market can do anything, it is our job to determine what the best probabilities are.

The Square of 9 Wheel makes that job a whole lot easier.

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