There is no obvious support for AMZN at the last close price. I believe there is still some room for it to fall. The top horizontal line shows where you will place a stop for shorting. The reason for that stop price is really because we do not want to see a bullish engulfing pattern to complete a candlestick reversal pattern.
Comment:
I wonder if I should update this idea as closed due to stop because I had intended it as a new trade idea and stop to be placed only after a bar closed above the stop price. But then I think I should keep it as my original intention and only update when a 4-hour bar closed above the stop price.
Trade closed: stop reached:
Stopped.
Trade closed: stop reached:
Stopped.
Trade closed: target reached:
Target Reached
