Amazon - This one seems like a great short opportunity because we can count 5 waves up and wave 5 itself seems to have finished as an Ending Diagonal with a small throw-over.
This usually signals, at least temporary, a trend change down to the marked support zone first.
If price drops and goes below the dotted trend line and the 2500 level, the conviction for this count increases.
For the non - Elliotticians here
You can see on the left an idealised drawing of what could happen.
This usually signals, at least temporary, a trend change down to the marked support zone first.
If price drops and goes below the dotted trend line and the 2500 level, the conviction for this count increases.
For the non - Elliotticians here
You can see on the left an idealised drawing of what could happen.
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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.