Price rallied and bounce off the bullish POI at 94.71. From here, I'm expecting price to head towards the fair value gap at 109.77 and see what the price will do from there.
short then Watch for the entry point then a long journey for the next 6 months...
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor
Hi,
I wake up early to go over my Trades!
Once the Stocks are closed and You need to move the Candles, it feels very different.
NOW see What Happened and How you can IMPROVE!
Just IMPROVE
Amazon did a nice rebound from support, Can not afford to reach resistance. early next week I guess it could pullback to retest moving averages to 90th
Hello,Traders!
AMAZON made a nice rebound
From the horizontal support below
But the resistance level is ahead
So after the retest on Monday a pullback
Is to be expected
Sell!
Like, comment and subscribe to boost your trading!
See other ideas below too!
Check out the move in $AMZN today in comparison to how it was trading before covid and even during the covid crash
Today, the move was close to 15% at highs
Price played out exactly as analyzed last week. Price is mitigating the bullish POI at 94.71. I'm expecting a bullish retracement to fill the fair value gap at 109.77 on this reaction.
I started a position yesterday $88 and change, support is $86 I will add if $87 and $86's print. We are oversold on several charts, stochastic curling up, basing has begun, new moon just printed. $99 Jan calls, bounce to $112 + in coming weeks
Based on pullbacks/bounces this year (all during the downtrend) it should make it to/into the box. Unless this time is different, which it could be, however, based on price action relative to RSI and MACD behavior the current setup matches 7 previous setups this year. So far this position relative to RSI / MACD has yielded 8-26% bounces within a timeframe of 7-23 days.
Something I am aware of is that traders get trapped primarily because they get laser focused on one specific side of the market and one specific price target. This happens either because of greed in wanting to get it allllllll from a winning position or simply being caught underwater.
Amazon, a formerly $1+ trillion company by market cap, lost 30% of its value...
Price should most probably go down to the 80 area in short order! I would expect that level to hold initially with a potential buy trade set-up. Failure to hold, price is expected to go down to next support level around 65 ! Just my view :)
Back on Jul 6, 2021 I posted this chart "AMZN I am Not Convinced Yet"
Fast forward and price has gone nowhere.
Now a 13-year channel has been broken. While I am not ready to call a short in this name
until it breaks previous sideways lows. The writing is on the wall. that it will.
Having said that I will go ahead and mark it as a Short. But I am still waiting...
Hey all, I thought I'd post this as I'm seeing AMZN get towards the bottom end of its current base. I'm actually taking a midterm right now, so I'm not able to write too much on this, other than the fact that if you're currently bullish, you want to see this base hold strong on AMZN as it is a market-moving name. I'm bearish on the markets at current stages, but...
Ez gains but we must carefully catch that ENTRY
There is a huge liquidation happening in this area 100- 90 and it might continue to 80 but it is a support area in the 80-range
Any thoughts
AMZN remains bearish.
We expect the price to either have a small bounce and get rejected at the resistance or further price drop without the bounce next days.
The trend overall is bearish
Short entry: at the resistance as shown in the chart
Target: $84 - $93
