AMZN looking for a new high, but swing traders be careful...The stock AMZN is consolidating in an ascending triangle , it is most probable that the market will look for 4038.05 (1.618 Fib level).
You need to wait for the confirmation of what I said by the breaking of the triangle from above.
Be aware of the negative divergence of RSI, another reason to wait for the confirmation of the increasing movement.
Finally, and most importantly, keep an eye on volumes they are what makes the market move, not prices.
Amznlong
AscendingTriangle (Continuation Pattern)Amazon had great numbers on earnings. It business model keeps improving ....this has become a safety stock during the time of cover... Chart indicates if the buyers can overtake 3250... it rips higher ...Potential Target 3800
Keep an eye out for an news regarding anti-trust...
Keep on Radar Great setup...
There are many ways to play this
AMZN (AMAZON) LONG AND SHORT SET (HUGE BREAKOUT)HUGE BREAK OUT COMING
Amazon.com, Inc. offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company's products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It also manufactures and sells electronic devices. The Company, through its subsidiary, Whole Foods Market, Inc., offers healthy and organic food and staples across its stores. The Company also offers a range of products like whole trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85% lean ground beef, creamy and crunchy almond butter, organic gala and fuji apples, organic rotisserie chicken.
TITLE/(DATE)- BUY AMAZON (7/28)
ASSET- AMZN
PLATFORM- MT4
ORDER TYPE- BUY limit
Time Frame- 1D
ENTRY PRICE 1- 3018
ENTRY 2- 2998 (pending)
STOP LOSS- 2978 ( 400 PIPS)
TAKE PROFIT 1- 3058 (400 PIPS)
TAKE PROFIT 2- 3098 (800PIPS)
TAKE PROFIT 3- 3158 (1400)
TAKE PROFIT 4- 3228 (2000 PIPS)
TAKE PROFIT 5 - 3318 (3,000 PIPS)
TAKE PROFIT 6- $3458 (4,400 PIPS)
STATUS: ACTIVE
😯 Amazon Ready To Put On Scuba Gear? (AMZN)💰 LET'S GET INTO SOME AMAZON ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- Amazon Is on high alert as the 1 hour finally starts to shift red on the ema dots indicator below. The candles are firing red with a drop below on the Crossover strategy. I think the bears are getting hungry!!!!
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
Thanks for checking out our analysis! ✌😁✌
🥇MLT | MAJOR LEAGUE TRADER
😯 How Much Juice Is Left? (AMZN)🤔 Pre market right now showing 2675 which puts it almost near the top of the rising wedge.
Amazon would have to go parabolic to break to the upside at this rate. Keep eyes glued and play the breakouts.
All indicators still green on the daily.
Best of luck, happy trading!
🥇MLT | MAJOR LEAGUE TRADER
🚨 Amazon Is On HIGH ALERT!!! 🚨 (AMZN)🤔 The big daddy of e-commerce looks like it could be at a tipping point!
MASSIVE ascending wedge! We are now getting the compression at the tip of the iceberg.
This pattern can show signs of extreme exhaustion.
What you will want to do is play the breakout of the wedge, almost like how I showed on spx500 before the dump.
2515 is current support that MUST HOLD! Good opportunity to short if it breaks that level.
2683 is an opportunity for long if it broke the top of the pattern, would need to be parabolic movement to breach.
Best of luck to you! 🎲🎲🎲
🥇MLT | MAJOR LEAGUE TRADER
AMAZON - the rich will become richer! 🤑Good day to all! Indeed, the really rich will become even richer! Let's analyze the stocks of AMAZON.
For a long time, the stock price moved inside the upward channel. Marked on the chart. In 2018, this upward channel was broken in a downward price movement. As a result, another upward channel was formed. Inside, which price moves in a five-wave growth pattern.
At the moment, the price is moving in the third wave with the likelihood of continued growth to the level of 2802.04 or the upper boundary of the rising channel. Locally, the price moves inside the local upward channel (marked on the chart).
In case of breakdown and consolidation below the middle border of the channel, the price will continue a downward movement to its lower border.
Successful bidding!👌
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Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
Amazon Earnings History vs. RSIAmazon has skyrocketed, taking the S&P with it. But what has Amazon done in the past in these overbought situations right before earnings? Every time the RSI has been at this level in the past couple years, the stock has corrected when the earnings came out. Granted, it has rallied back extremely well every time. I expect a dip this time for sure, especially considering the speed at which it has taken off. Historically, this is a pretty good bet to "buy the dip" if a correction does come. Short for now. Long after correction.
No, I do not have a price target. The market inconsistencies make it nearly impossible to determine how people will react to any sort of news (ie 26m people unemployed, global oil crisis, S&P gaining like crazy).
AMZNA game plan with patience helps with consistency! This still is playing out nicely and following my initial thoughts of seeing a 5 wave move down for an overall corrective wave 4 (blue “iv”) of the overall up move.
Looking like today is a corrective wave (4) within leg c down of this pattern. Again, I don’t like trading retrace waves, as you can see the market can toss you around pretty good and if doing options, say bye-bye to premium (another reason why I trade further out in time).
Still sticking to this game plan. I think we can still see a wave (5) down to the bigger demand zone around 2250. The primary demand zone, in green, is a gap fill zone but I’m not sure we will go that far as aligning with the fib levels, the 2250 area coincides right with the lesser degree wave 4 (#4 circled in white). With wave theory, corrections tend to retrace to a lesser degree wave 4. That aligns with fib retrace between .236 and .382 and ADDITIONALLY aligns with length of C down equal to 1x to 1.272x the length of A (yellow fib lines).
Game Plan: should see micro a - b - c wave for white wave (4). From there, I’ll watch to see if it drops for wave (5). From there, will look for price action (the 1 - 2 wave out) to start for wave “v” up (in blue).
.... please let me know if these are too long or if they are helpful! And feel free to ask or send me a message about anything, even if you completely disagree! Collaboration is always good!
AMZNThis is playing out pretty nice. We saw first down to demand and saw a bounce back up to the 786 retrace making a lower high (some confirmation of being in corrective phase). Now if that was wave (b), we should see 5 waves down for (c). Overall, a typical wave iii retrace is between .236 and .382 (my blue fib lines). These happen to be in somewhat good alignment with a typical a - b - c projection with c ending between 1x to 1.272x wave a. To add more alignment, we can see there are two good demand zones where all of these projections come together!
I don’t like to trade retrace, but if you want to do a small risk I would look to enter a short as it looks like we are creating a wave 1 - 2 down. For me, I’ll be watching for completion of wave c down, specifically will look for a 1 - 2 wave base to build coming out of a demand zone indicating the beginning of a 5 wave impulse up for overall wave “v”.
AMZNSomeone asked for a quick AMZN review so here’s a quick one.
Think we put in Wave iii up — lines up with 1.618 extension pretty well per my count. Based on my count, wave ii was a shallow retrace so ultimately I would really prefer to see a wave iv retrace go to at least 50%. The boxes in grey can represent some potential bounce zones to help establish the a - b - c wave down count. I don’t trade retrace waves, rather I follow along and watch price action as it enters respective fib Retracement levels. It’s the impulse wave up that you want to trade and use the retraces as confirmation.
So at .236; .382; or .5 levels, I’ll watch price action, SPECIFICALLY will be looking for a wave 1 - 2 to establish as wave “v” will be in 5 waves. This is where I wait. Watch price enter demand with some fib alignment, have a bounce out and then look for a healthy retrace with a higher low, indicating my 1 - 2 setup!