Amazon Price structure guess.
This should complete the wave count to 61.8% retrace on Amazon to 1K.
I have the 61.8% retrace at about $975, but 1K should be a psychological support and makes more sense to stop just above.
This should complete the wave count to 61.8% retrace on Amazon to 1K.
I have the 61.8% retrace at about $975, but 1K should be a psychological support and makes more sense to stop just above.
Note
I moved the fib line to start at the last impulse down, which would be "b" at 1704.941.886 of that swing correlates closely with the .382 from the bottom of wave 4, to ATH. (61.8%) with the difference between the two being only $4.37.
This would make the target price $958.80
Note
Looks like the second chart I posted has validated.I'm expecting the sell off to continue to $958.80.
Meanwhile, I'm attempting to track the wave count on the 1 min. (for funsies).
I'm leaning towards a H&S setup that i have detailed below.
Whether or not it plays out like this, i'm excited to see what happens.
Keep in mind this is a 1 min chart, and this is more of a guess until i have more data.
Note
Still bearish on Amazon.Looks like a triangle wave as it nicely hit the .786 of wave c - d.
breaking the high at 1780 invalidates this count / idea. :)
GL & Happy trading.
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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.