Amazon.comShort
POTENTIAL SHORT OPPORTUNITY AMAZON (AMZN)
Hello everyone hope you are all doing fantastic today!! Just wanted to come on here before the start of the trading week and make a post for this awesome community on a potential short sell setup I see on Amazon! So let's dive in!
OK so I am going to keep it really brief and simple for you all! Since simple trading truly is sustainable trading. So let me give some bullet points based on each timeframe that is giving me a short bias! Here we go:
1. Weekly Chart: price had huge sell off from 200 to 150 per share in price; now with prices pulling back (expecting potential follow through)
2. Daily Chart: Price had a sharp drop from 195 to 180 per share; formed strong zone of supply; buyer is coming in with weaker momentum than the seller (showing seller control); ALSO pulling back into a potential 78.6% discount zone on the daily fib retracement tool
3. 4H Chart: Broke structure lows around 183 per share. Now pulling back into supply; watching for potential divergence, etc.
OK guys there is my simple breakdown for you guys! Basically just seeing if we get some of that follow through to the downside following that large sell off on the weekly timeframe! Hope you all enjoy and have an amazing rest of your day! Cheers!
Please boost this post and follow my page for more quality setups and content!
OK so I am going to keep it really brief and simple for you all! Since simple trading truly is sustainable trading. So let me give some bullet points based on each timeframe that is giving me a short bias! Here we go:
1. Weekly Chart: price had huge sell off from 200 to 150 per share in price; now with prices pulling back (expecting potential follow through)
2. Daily Chart: Price had a sharp drop from 195 to 180 per share; formed strong zone of supply; buyer is coming in with weaker momentum than the seller (showing seller control); ALSO pulling back into a potential 78.6% discount zone on the daily fib retracement tool
3. 4H Chart: Broke structure lows around 183 per share. Now pulling back into supply; watching for potential divergence, etc.
OK guys there is my simple breakdown for you guys! Basically just seeing if we get some of that follow through to the downside following that large sell off on the weekly timeframe! Hope you all enjoy and have an amazing rest of your day! Cheers!
Please boost this post and follow my page for more quality setups and content!
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