Today we will talk about the AMZN setup we have currently pending. Most of the time, we never have more than three setups executed at the same time. One of those is Amazon; after the breakout of the massive range, we observed a Flag Pattern on the edge of it, which is a sequence that has been repeated with different variations across the history of the...
Since the Subprime mortgage crisis, Amazon has been repeating a very distinct pattern. After every correction, it gets supported by either the 1W MA100 (green trend-line) or the 1W MA150 (red trend-line) and spends almost a year inside an accumulation zone. Once that's over, it targets the 2.0 Fibonacci extension from the bottom of the correction.
The chart is on...
it's a monthly chart of AMAZON, as you see , the third wave of elliott hasn't ended yet .
our target is 8300 $ , exactly on 161.80% Fibonacci.
after reaching the target , we will witness a correction as the 4th elliott wave , and then the 5th wave.
so in my opinion , keep your AMAZON stocks , till the target reach.
it's a long-term target , will take a at...
S&P 500 is forming a rising wedge which will be a nasty drop in all markets if it plays out. I will be looking to buy the dip, but im going to wait till I see a proper bottom forming. With covid, all the money printing and the general boom we have seen in the market lately, a correction is due (might even see a flash crash).
This may also affect the crypto market
With Jackson Hole this week looking to create rotation in certain names, I believe you may be able to look beyond it to mid caps like EBAY who have been showing a tremendous amount of relative strength recently against the broader indices and I wonder if there's a lot more left in the tank. After ETSY's earnings went off in a strong way, we'll see if names like...
AMAzon on the weekly still bullish, but the last candelle is strong signal of trend change and a consolidation phase is probable.
if breakout of 3175, we can reach 2951 and may be 2805
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The best timeframe for this strategy is Daily, Weekly and Monthly...
