Amazon bends at the knees as it prepares for another 3 pointer!
With the RSI cooling off and a nice healthy pull back to the April 18th Trend line, we are watching a nice healthy power play in the making. I see amazon shooting an absolute bucket with an easy 10% gain into 2100 territory. SWISH, once capitalized at 2100; plan to wait for another rebound off the trend line and prep the stage for nothin but net.
Thank you all for reading... now lets go get us that Trifecta!
**This is not professional advice. Please trade responsibly.**
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Amazon hits the leaner with the flick of the wrist and we're off to the race!!
Now the ball is still in the air, the trajectory looks magnificent but we must continue to tread lightly and let the bulls guide us gracefully to the net.
With our 1925 entry, we shall not get overly excited from today's bullish candle, but let it guide us to scale in at 1960 and 1980 confirming the path upward while providing the ball with enough energy to sink the shot.
Stay tuned for your play by play updates with Dr. Sphatch
Is anyone counting the actual waves? where are we at within each pattern all the way to Grand Super Cycle, does anyone keep track?
ecramer
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It can easily loose a lot of value.
This thing can break the lower trend line the Nasdaq Composite is also testing the lower line.
So things can get ugly pretty fast here.
sphatch
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@ecramer, Thank you for sharing! I agree, the market is well into exhausted territory and a high risk area to invest. As a method to help mitigate the risk I set hard trailing stop-losses as price moves upward. I know this is not a bullet proof method but it's better than standing naked when the curtain drops.