AMZN H4: 30% CORRECTION PT BEARS 90 USD SHORT IT(SL/TP)(STOCKS)Why get subbed to me on Tradingview?
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AMZN H4: 30% CORRECTION PT BEARS 90 USD SHORT IT(SL/TP)(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: AMZN H4 chart review and outlook
::: maxed out already
::: Currently DISTRIBUTION already completed
::: we broke down on heavy volume
::: this is NASTY looking chart
::: BAD for the BULLS / stay out
::: FED rate hikes incoming / FED PUT is GONE
::: short sell rips/rallies in the throwback move
::: expecting backtest of the recent Distribution Range
::: recommended strategy: SHORT IT / STAY OUT
::: up to 40% correction still possible from here
::: fair value for AMZN is 85/95 USD
::: DO NOT BUY/HOLD here this is NOT A DIP
::: This is stock market meltdown in progress
::: be careful / don't get ran over by the FED
🔸 Supply/Demand Zones
. N/A
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AMZN
Amazon Bear RetracementSign of Bearish trend continuation
-Candlesticks are moving below MA200
-Magnitude of Downtrend Line B is much stronger than of downtrend Line A, confirming strong bearish trend
-Candlestick fail to stay above MA200 after retracement R1
Strength of Retracement line R2 is stronger than of R1, signifying more uptrend momentum. However, candlesticks might have issues challenging hurdles of 0.618 fib retracement of Line B and MA 200.
Heavy selling might occur around the range of 151 to 164, where there is much higher trading volume. Holders that bought at this range or higher might choose to sell in order to breakeven or recoup losses.(Boxed)
If the expected long-term downtrend continues, Strong support might only be found at 88 to 95 range, where the highest volume have been traded for past 900 days since March 2020. (Boxed)
Elliott Wave View: Amazon (AMZN) in Wave 4 PullbackShort Term Elliott Wave View in Amazon ($AMZN) suggests the rally from 5.24.2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 5.24.2022 low, wave ((1)) ended at 128.99 and pullback in wave ((2)) ended at 101.43. The stock has resumed higher in wave ((3)) with internal subdivision as an impulse in lesser degree. Up from wave ((2)), wave (1) ended at 118.09 and dips in wave (2) ended at 102.52.
Stock resumes higher again in wave (3) towards 144.60, and pullback in wave (4) ended at 139.76. Final leg higher wave (5) ended at 146.57 which completed wave ((3)). Pullback in wave ((4)) is in progress to correct cycle from 6.15.2022 low in 3, 7, or 11 swing before the rally resumes. Down from wave ((3)), wave (A) should end with 1 more push lower as 5 waves. Pair should then bounce in wave (B) before turning lower again in wave (C) to end wave ((4)). Per guideline, ideally wave ((4)) ends somewhere at 23.6 – 38.2% Fibonacci retracement of wave ((3)) which comes at 129.4 – 136. Afterwards, the stock should extend higher 1 more leg in wave ((5)). This would complete the 5 waves rally from 5.24.2022 low.
AMZN: BREAK OF TREND LINE COULD SEE $136🔸️Ticker Symbol: AMZN🔸️Timeframe: 4 Hour 🔸️3X Bear Pattern 🔸️Investment Stratey: Short
TECHNICAL ANALYSIS: Amazon is currently trading in an upward trend however on our dashboard we do have our money momentum shifting to the downside along with a "red dot" meaning a key EMA crossover. The middle band has now shifting over to red meaning bear market momentum. If we end up breaking out of this trend the next level of support will be around $136
4X 🟢 Bull Pattern Confirmation Requirements
✅️ Linear Regression Indicator Increasing
✅️ Money Momentum Shifting Higher
✅️ Green Dot: Key EMA Crossover to Upside
✅️ Green Middle Band: Bull Market Momentum
4X 🔴 Bear Pattern Confirmation Requirements
🔻 Linear Regression Indicator Declining
🔻 Money Momentum Shifting Lower
🔻 Red Dot: Key EMA Crossover To Downside
🔻 Red Middle Band: Bear Market Momentum
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Buy or Sell ?Uber's strategy to make profit:
1. Charging customers for subscription.
2. Cheating on restaurants more than ever.
3. Reducing the payment to drivers.
And the result of this "smart strategy" is dissatisfying everybody, and ultimately loosing the market!
Capture this image and see me at the end of the year...
Amazon potential sellWill amazon reach 150 area and get rejected on the third touch of the trend line? ill have a sell order for 148.50 down to target level.
its mad to think it would of nearly rallied 50% from the bottom and there was multiple chances after the split to buy the stock. what a miss by myself! I was debating it for too long reading to much into the fun and missed out on a major opportunity.
Buy AMAZON now!! Huge discount sale for an ecommerce behemoth!
Technical Analysis
- Triple bounce off $101 level with big reaction upwards,
- this region used to be resistance now flipped support.
- Its also the 61.8% retracement level (golden zone for a rebound)
- stochastic RSI was in oversold, now rebounding
Trades:
Short term traders can look for a LONG from current level
For long term traders this is a good region to BUY MORE AMAZON
AMZN Potential for Bullish Continuation | 8th August 2022On H4, with the price moving above the ichimoku cloud and the MACD histogram is above zero while RSI is also moving along the ascending channel , we have bearish bias that the price may rise from the buy entry at 145.05, which is in line with the 61.8% fibonacci retracement to the take profit at 156.74, which is in line with 78.6% fibonacci retracement . Alternatively, the price may drop to the stop loss at 133.77, which is in line with the 23.6% fibonacci retracement .
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AMZN Potential for Bullish Continuation | 8th August 2022On H4, with the price moving above the ichimoku cloud and the MACD histogram is above zero while RSI is also moving along the ascending channel, we have bearish bias that the price may rise from the buy entry at 145.05, which is in line with the 61.8% fibonacci retracement to the take profit at 156.74, which is in line with 78.6% fibonacci retracement. Alternatively, the price may drop to the stop loss at 133.77, which is in line with the 23.6% fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
DKNG - Draftkings Deep Crab Harmonic Weekly setup.DKNG - Draftkings, perfect harmonic deep crab setup with the 161% PRZ being respected and a nice bullish engulfing on the weekly to trigger entry. long with T1 @ 34.50 T2 @ 49.95 SL 9.65 RR @ T1 = 2 : 1, RR @ T2 = 3.88, SL moved to break even at T1 and half profits to be booked. weekly setup so patience required as setup will take a while to play out.
Amazon for a short term reversalUpgoing zigzag is complete coupled with divergence on momentum give a clear indication that we are to drop on this one in the very immediate future.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
****spy is at a very critical level make it or break it week ***Looking at the weekly chart on the spy it appears that it is a make it or break it week…notice how the candles on the weekly r very identical to the last rally, if spy can’t break out this week then this will be a double top pattern and the drop would be severe (lower lows), alternatively if the spy holds and breaks out to upside then the rally will continue and $430 will be the target…cpi data on Wednesday could be the deciding factor…best of luck to all.