EWT wise Amazon is building a tradeable short setup in 1-2 / 1-2 fashion. I expect a retracement to 3200 area to complete wave 2 of circle 3 of wave A. It may take up to 2 weeks to complete wave 2. Demand zone for the whole wave A resides in the area of wave 4 of the larger degree (blue area on the left side).
Note
So far it's going as planned though wave 3 dropped slightly deeper than I expected. Alt count here is ABC where wave C looks complete. I'd suggest closing short position and watch for the next short setup.Note
Wave "a" complete by Nov-Dec'22 as projected in April. Now building a base for wave "b" by Apr-May'23.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.