Night_Trader

Amazon - Countertrend Short

Short
BATS:AMZN   Amazon.com, Inc
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AB=CD completes right at the top of the channel.
Possible short with a stop above the 1.618 extension of the prior swing and a target at the top / breakout-point of that swing. R/R is 3:1 but be carefull it is countertrend against a strong move.

Comments

Ok although the entry area has not been reached I will declare this trade as a closed profit. I personally missed the trade, because it did not hit the entry point.
However the anticipated move took place and I would not recommend to try it again, therefore I declare this one as closed.
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Short Interst build has me worried here.
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