AMZN: there's strong support here, but I'll wait for TL touch

By kingdips
Updated
This would likely be a daytrade or 1-2 day swing when this transpires anyway.

If I miss out on the reversal, it's better than entering too early.
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One strategy is to enter slow, but that can be detrimental if you don't know what that means and if you don't have discipline.

Also there's a h/s on the 4hr candle-chart. So I'll wait.

Look at my AMZN short from yesterday. Paid well and hit targets. Puts are at least +100%.
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Update: Now on trendline. Good stuff if you waited as well.

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I cloned the TL to show that there's a possibility of a fakeout to the cloned TL.
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Update: snapshot
Escaped the mini downtrend. Should be clear skies. Watch NQ1! and QQQ for confirmation of reversal though. Never trade without a market view:
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Always good to track your trade on the lower timeframes and look for patterns in or against your favor.

Here's a mini inverse head and shoulders:
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If we weren't above key support I would have cut breakeven:
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NQ1! QQQ SPY ES1! all consolidating sideways. Impulsive move should come any minute now.
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ES1! SPY confirmed megaphone. Signaling volatility potentially.
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NQ1 QQQ bounce from support. Watch for 4x top and breakout.
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Trade active
Target 1 met. Approaching target 2.

See my breakout on NQ1! QQQ SPY. Nice nice.

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Took DT profits +30% on target 2. Still think this will continue into tomorrow.

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Target 3 achieved.
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AMZNdaytradeHead and ShouldersovernightreversalSupport and ResistanceswingtradingTrend Lines
kingdips
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