Amazon - Massive Resistance Ahead
Hello Traders, welcome to today's analysis of Amazon.
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Explanation of my video analysis:
With the quite obvious and expected channel breakout in 2016, we saw a rally of more than 500% towards the upside on Amazon. This pump was followed by a retracement back to a previous support level before we saw another bullish reversal. If Amazon breaks back above the structure mentioned in the analysis, market behaviour is bullish and I will be looking for longs.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
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Explanation of my video analysis:
With the quite obvious and expected channel breakout in 2016, we saw a rally of more than 500% towards the upside on Amazon. This pump was followed by a retracement back to a previous support level before we saw another bullish reversal. If Amazon breaks back above the structure mentioned in the analysis, market behaviour is bullish and I will be looking for longs.
--------
I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
😴|Swing Trader
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💶|Keep your long term vision
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
basictrading.net
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