inv H&S inception pt. 2

AMZN (and all of FAANG) have been getting beat up but accumulation still looks strong for AMZN. This is definitely a quick swing trade as I don't believe in holding a company that has guided revenues down 2 quarters in a row...nothing egregious on RSI either. Notice how the larger head and shoulders are all each comprised of smaller H&S patterns that all completed.

1) Watch QQQ and see if it breaks out to the top side of its current wedge (almost makes this trade a lock IMO) or breaks down from the 2007 top wedge TL that it bounced off of today.
2) If trade talks outcome is announced and this hasn't hit PT yet, I'd just as soon take any profits on the table and walk away... My gut tells me the market will sell the news on whatever half-assed "deal" is announced.
3) If the market seems exceptionally masturbatory, might be able to push the PT all the way to the top green TL and gap fill from earnings.

Comment:

Feels like the market's gonna jizz it's way up to 2800+ early next week. Hopefully it takes AMZN along for the ride. If you pan out the chart, looks like it's painted a bull flag on the daily chart... One of the first pigs to fatten up during the rally and it's lost some weight since. Might be time to eat again.

Comment:

Exited trade this morning on news. Will buy back on successful retest of neckline

Comment:

Bought back in for a quick scalp on Tuesday... though not feeling great about it. Index charts remind me a lot of Dec 3...

Comment:

TP achieved. Trade closed and bought a Mar 15 put for fun. Will flip back to long if S&P can achieve 2815 or AMZN breaks 1680.