AMZN - observation chart
Updated
DISCLAIMER - I currently have long positions in AMZN started at $1867.
Position established at around the first pullback after the push up over the new year break. AMZN looked like it was headed for a bull flag chart formation and completed that with highs around $1900 today (1/2).
This pattern looks like it's starting to run out of steam, but has some legs left. I think that it probably has one drive left before momentum swings back to the downside.
Most of the chart was built using the 1m timeframe, but some of the patterns are fairly obvious.
Position established at around the first pullback after the push up over the new year break. AMZN looked like it was headed for a bull flag chart formation and completed that with highs around $1900 today (1/2).
This pattern looks like it's starting to run out of steam, but has some legs left. I think that it probably has one drive left before momentum swings back to the downside.
Most of the chart was built using the 1m timeframe, but some of the patterns are fairly obvious.
Comment
Strange events in the news, US killed an Iranian General, most of the market looks sharply down in the early session, not sure if that is weakness or panic. Observing before layering on more bets.Trade active
looking for a good spot to potentially exit the trade, it seems like next week might be a little volatile.
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