Headed back to 180 price action and trendline support but first a push back to 208-210 (20ma) + theres a gap to close from March 5th
I don't think price makes it back over 210 before it take a turn down to 180 BUT if price can close above 211, then we are headed here
215 price action + the weekly 20ma at 217 .. that my extreme long target that will only come if Spy pushes back up to 580-585..
But we are headed back to 180 and this is perfectly normal!
The very bearish scenario is if Amzn breaks 180.. then 140 comes
So let's talk about trading this
Daily 200ma is at 199.. price action resistance is at 200.00
Long over 201.00
Target - 208-210
Stop loss below 197.00 weekly 50ma
Short only if price breaks back under 195
Target 191
Stop loss
197.50
197-199 is chop... No trade zone
I don't think price makes it back over 210 before it take a turn down to 180 BUT if price can close above 211, then we are headed here
215 price action + the weekly 20ma at 217 .. that my extreme long target that will only come if Spy pushes back up to 580-585..
But we are headed back to 180 and this is perfectly normal!
The very bearish scenario is if Amzn breaks 180.. then 140 comes
So let's talk about trading this
Daily 200ma is at 199.. price action resistance is at 200.00
Long over 201.00
Target - 208-210
Stop loss below 197.00 weekly 50ma
Short only if price breaks back under 195
Target 191
Stop loss
197.50
197-199 is chop... No trade zone
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Related publications
Disclaimer
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.