On the H4 chart, the overall bias for AMZN is bearish. To add confluence to this, price is below the Ichimoku cloud which indicates a bearish market. However, we are looking to play the pullback by placing a buy at 92.43, where the 61.8% Fibonacci line is. Stop loss will be at 85.88, where the previous swing low was. Looking to take profit at 109.58, where the 38.2% Fibonacci line and -27.2% Fibonacci expansion line are located. To add confluence to that take profit area, there is a market gap that looks good to be filled.
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