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AMZN: there's strong support here, but I'll wait for TL touch

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This would likely be a daytrade or 1-2 day swing when this transpires anyway.

If I miss out on the reversal, it's better than entering too early.
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One strategy is to enter slow, but that can be detrimental if you don't know what that means and if you don't have discipline.

Also there's a h/s on the 4hr candle-chart. So I'll wait.

Look at my AMZN short from yesterday. Paid well and hit targets. Puts are at least +100%.
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Update: Now on trendline. Good stuff if you waited as well.

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I cloned the TL to show that there's a possibility of a fakeout to the cloned TL.
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Update: snapshot
Escaped the mini downtrend. Should be clear skies. Watch NQ1! and QQQ for confirmation of reversal though. Never trade without a market view:
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Always good to track your trade on the lower timeframes and look for patterns in or against your favor.

Here's a mini inverse head and shoulders:
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If we weren't above key support I would have cut breakeven:
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NQ1! QQQ SPY ES1! all consolidating sideways. Impulsive move should come any minute now.
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ES1! SPY confirmed megaphone. Signaling volatility potentially.
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$NQ1 QQQ bounce from support. Watch for 4x top and breakout.
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Trade active
Target 1 met. Approaching target 2.

See my breakout on NQ1! QQQ $SPY. Nice nice.

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Took DT profits +30% on target 2. Still think this will continue into tomorrow.

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Target 3 achieved.
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kingdips
CEO & full-time trader.

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AMZNdaytradeHead and ShouldersovernightreversalSupport and ResistanceswingtradingTrend Lines

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AMZNdaytradeHead and ShouldersovernightreversalSupport and ResistanceswingtradingTrend Lines
kingdips
CEO & full-time trader.

🔥 Join the free community: discord.gg/buythedip

FREE full trading strategy & free options flow bot. Daily entries & exits. Swings. Daytrades. Lessons. Goal is to make you a seasoned trader.
Also on:

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.