🐻 Similar to amazon stock I notice a rising wedge from the main structures. This could lead to a fakeout trap as we approach the upside of previous high and selloff.
Patterns do not always mean what they are said to mean in the textbook but we can use them to help us look for our next play. The top of the wedge lines up with previous high. Be cautious. Play short if the bottom support of wedge breaks.
You never know we could get caught off guard and the bulls could run it up. Anything is possible. Just manage the risk if it were to flip.
Happy trading! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
Patterns do not always mean what they are said to mean in the textbook but we can use them to help us look for our next play. The top of the wedge lines up with previous high. Be cautious. Play short if the bottom support of wedge breaks.
You never know we could get caught off guard and the bulls could run it up. Anything is possible. Just manage the risk if it were to flip.
Happy trading! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
