AMAZON ($AMZN): Was it Bulls or Did the Bears Just Get Squeezed?✨ New charts every day ✨
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Amazon is the king of online sellers. Was this the bulls that brought us here on COVID-19 strength, or was this all just the bears getting squeezed? Revenue was up last quarter and they don't report again until the summer. Meanwhile, reports say shipping times are getting back to normal. Amazon might be at all time highs, but that doesn't mean it can't go higher.
Resources: www.earningswhispers.com + time.com
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 4 hour chart. Lets hope that was from buyers really looking for more continuation and not just COVID-19 bears getting squeezed in early April.
2. With this strategy, we we want to enter long on bullish order blocks plotted by Orderblock Mapping (Blue) and bullish S/R levels plotted by Directional Bias (Blue).
3. For the Bullish continuation, a pullback to R1 after its initial move higher would be the most ideal but not necessarily ensured as there will be large amount of momentum when we break out on the upside.
4. For the Sideways indecision, a small scalp from S1 to R1 is ideal since again we are trend traders so buying support in an uptrend is very much the path of most likely success.
5. Finally for the Bearish Correction preplanning an average entry at either of the S2/S3 ranges is looking great. Of course, this is assuming Fractal Trend is still showing an uptrend when we get to those ranges.
