Weekly break out based target, ABCD pattern for Dow.
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Intraday Update: The USDMXN is at 20.61, which is the underside of the broken channel trend line. This should offer resistance as the pair is up over 1.4% today.
I anticipate a price correction of approximately 10%, bringing the stock price down to around $18.80. Despite this expected short-term decline, my long-term outlook remains highly positive. The company continues to be a strong profit generator, with revenue growing at an impressive pace. Its newly launched products have been well-received, and there are numerous positive indicators for future growth on the horizon. Returning to the anticipated 10% correction, it’s worth noting that following the Q2 report, the stock experienced a significant surge, breaking away from its established base trend. This is not an unusual occurrence; similar deviations have been observed in the past. I have highlighted these patterns with markers. In each case, after the price left the base trend, a consolidation phase followed, during which the stock corrected back to the Fibonacci 61.8% retracement level. Historically, all major upward movements have been followed by a retracement to this level. I expect a similar scenario to play out in the coming weeks, with the price declining to around $18.80. At this point, I plan to purchase a substantial number of shares. Should the price briefly touch the base trendline, this would represent an exceptional buying opportunity—what I would consider a rare gift for long-term investors.
I think AMD still looks bearish on the longer time frames, but for now on the 15m it looks like a potential bottom with an inverse H&S. First upside target is $127.65 and it might go all the back up to retest the major trendline above. Would be bearish if it falls back below the shoulders/neck line with a target area of $118-$120.
Here you might see Pivot points (S1) , Local trendline and Fibonacci extension (61.8) as well as SnR confirming the probability of the price might go towards to 5860 if 5933 holds strong resistance. If it breaks above then next resistance should be 5945.
Price did not go into the order block marked out but that is alright. Price broke the 2H high creating a new range then broke below giving a signal that price wants to continue lower. Expecting that price will continue going lower from the fair value gap or from the order block marked out.
Weekly GEX & Key Levels – Options Recap https://www.tradingview.com/x/uJZSubbN/ Chop Zone (5850–6055) This range is likely the short-term “parking” area for sideways price action. Expect the market to oscillate here unless a stronger directional catalyst emerges. Gamma ‘Deny Zone’ (Below 5850) Dropping below 5850 can amplify negative gamma effects, potentially fueling a stronger downside move. Watch for increased volatility and momentum if this area is breached. Gamma-Squeeze Breakout Zone (Above 6055) A break above 6055 neutralizes the call gamma wall, potentially triggering a rapid rally (gamma squeeze). Consider bullish option plays if this level is reclaimed and confirmed. Options Perspective IVRank 23.8: Moderately elevated implied volatility (~1–2% potential daily moves). Puts 87%: Significant open interest in PUT positions, especially around 5800–5900 strikes, often acting as a strong support zone. Gamma Flip (~5923): A critical pivot where market maker positioning flips, potentially creating intraday turning points. Practical Strategies Range Trading in the Chop Zone Iron condors, short strangles, or other neutral strategies. Stay alert for any breakout that can quickly move the market beyond this range. Bullish Breakout Above 6055 Consider call debit spreads or bull call spreads to capture a swift upside move. Look for a confirmed break (ideally on higher volume). Bearish Breakdown Below 5850 Hedge with protective puts or put debit spreads if you hold existing long exposure. Negative gamma could accelerate downside momentum. Summary Base Case: Likely consolidation between 5850 and 6055. Upside: Above 6055, a gamma-driven squeeze could rapidly push prices higher. Downside: Below 5850, stronger selling pressure may emerge. Manage risk according to your plan and remain vigilant for any surprise catalysts. Disclaimer: This is not investment advice. Always use proper risk management based on your own trading objectives.
Be very careful. I think it should touch at least the 91300 line. And then maybe move up or test the 89000 range. But the macro structure of the market is very susceptible. Don't forget to enter and exit the DCA ( dollar cost averaging ).