AMZN in a triangle pattern LONGAMZN on the 15 minute time frame is in a relative symmetrical triangle pattern. A volume
profile and intermediate term anchored VWAP are overlaid. They validate one another since
the POC line and the mean anchored VWAP line up. Price is below both of them. My forecast
is that price will rise and temporarily so sideways in the high volume and volatility zone
of VWAP / POC and then ascend higher as that tug o war is finalized. My long target for now
is 170.35 as the top boundary line of the high volume area of the VP. This is a good trade
for shares on margin to get some juice into the trade. I will instead take call options for
March 16th striking $ 172 for some leverage and beyond linear RIO. AMZN is good to go.
Admittedly, this is an early bird trade. I see the risk as minimal.
