im seeing a double top by the AD along w/ price action + Chikou Span. this is very bearish , setting up a short to C wave 95.50 for amzn
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I have a C wave Buy set up on the 4hr time frame. The Bearish ABCD pattern set up w/ Elliott Wave count. Amazon needs to close at or above the .382 fib level
1st target upon close at or above the . 382 fib level is $121, which is the .618 fib level from C wave of the bearish abcd pattern down to D leg. The AD has already confirmed the $190 target. In fact we have a bearish Bat on the 1hr time frame, which is being overshadowed by the Bullish cypher on the 15min chart... This is a massive Shakeout ... This is a long term play for me. I welcome a dip $95.50, but currently I dont see that happening. This will take time to playout.. I just wanted to share another view of this trade, and long term set up. The other public amazon chart is the Daily, this is the 4hr chart. It'll help you better identify level as they cross above/below key fib levels. also important to note 1.618 fib level of this entire move is at $187.00, Buy the Dips.
1st target upon close at or above the . 382 fib level is $121, which is the .618 fib level from C wave of the bearish abcd pattern down to D leg. The AD has already confirmed the $190 target. In fact we have a bearish Bat on the 1hr time frame, which is being overshadowed by the Bullish cypher on the 15min chart... This is a massive Shakeout ... This is a long term play for me. I welcome a dip $95.50, but currently I dont see that happening. This will take time to playout.. I just wanted to share another view of this trade, and long term set up. The other public amazon chart is the Daily, this is the 4hr chart. It'll help you better identify level as they cross above/below key fib levels. also important to note 1.618 fib level of this entire move is at $187.00, Buy the Dips.
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1st target 109
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rsi is above clouds, which is bearish
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possible.. im forecasting