Amazon (AMZN) Technical Analysis and Trade Idea
#AMZN has demonstrated a robust bullish trend, recently leaving a notable price gap between 167 and 162. Given the extended move, a retracement back into this gap appears likely as the market seeks equilibrium before March.
Potential Trade Setup:
- Entry: Consider a short position near the current range high.
- Stop Loss: Employ a stop loss 1.5x the Average True Range (ATR) on the daily (1D) timeframe.
- Rationale: This setup targets potential overextension and aligns with the anticipated price rebalancing.
Important Disclaimer:
This analysis reflects my personal market interpretation and does not constitute financial advice. Always conduct your own independent research and thorough risk assessment before making any trading decisions.
Potential Trade Setup:
- Entry: Consider a short position near the current range high.
- Stop Loss: Employ a stop loss 1.5x the Average True Range (ATR) on the daily (1D) timeframe.
- Rationale: This setup targets potential overextension and aligns with the anticipated price rebalancing.
Important Disclaimer:
This analysis reflects my personal market interpretation and does not constitute financial advice. Always conduct your own independent research and thorough risk assessment before making any trading decisions.
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👀 👉 Check Out Our INDICATORS
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Disclaimer
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