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AMZN with Possible Long Term BreakoutAMZN failed to stay above fairly new established trendline on the short time intervals but refused to break and hold below key resistance levels around 1855-1860. On the larger interval charts price action is respecting trendlines well. In fact, we see what looks a breakout from a triangle on the Daily chart. We also see what looks like a MASSIVE ascending triangle forming on the weekly. (1st resistance hit back in September 2018, 2nd resistance hit back in July 2019, 3rd resistance hit TBD- Estimating a touch between late January and early March). If both triangles do justice, then we should see a breakout from the smaller triangle with a strong upward run to the resistance line of the larger ascending triangle, a slight break above, a retest of this new Resistance-turned Support, then a major unparalleled bullish uptrend for AMZN sending the price shattering the $2000 ceiling. From there onwards, the possibilities of price targets are nearly limitless. AMZN will have numerous tightly packed walls of resistances to break through initially to first make it to 1917 though. Currently looking for a break and hold above 1880 for a run to 1900; a break and hold above 1900 for a run to 1917-1920; then a break and hold above 1920 for a run to somewhere in the ballpark around 1960. Currently confirmation coming from upward trending MAs on the Weekly Chart and a bull flag on the daily. Keeping an eye out for major upcoming catalysts (ex: Earnings report coming up on 1/30/2020). NASDAQ:AMZN
NASDAQ:AMZNLong
by GodfreyWillisJr
AMZN long setup and detailed explanation - 1:3 Risk-RewardAmazon daily chart shows higher lows and higher highs. I have decided to go long with a proper risk management. I'm going to risk ~2% of my account here. AMZN LONG TRADE SETUP: Entry: 1739.43 (or at the opening of 18th Nov) SL: 1681.62 ($57.81 from entry) 1. TP: 1811.69 ($72.26 from entry - 1:1.25R) 2. TP: 1933.25 ($193.82 from entry - 1:3.35R) Risk: ~2% WARNING: Winning probability is lower than 45% (by the day of execution) DESCRIPTION: Say you have $10,000.00 in your account. How much would you risk per trade? My maximum risk appetite is 2%. In this case, I'm planning to risk $200.00. Let's calculate our position size: IMPORTANT: If you are new to trading, you want to risk lower. Preferably lower than 1%. Stop loss value = Entry - SL = 1739.43 - 1681.62 = 57.81 For short setups, you need to use absolute value. That's why we are getting absolute value of stop loss value. In this case, we will not need to use ABS, but let's make a habit of doing it. Stop loss value = ABS(Stop loss value) Position size = Risked amount / Stop loss value Position size = 200 / 57.81 = 3.46 We can not buy 3.46 lots (3 or 4). If I buy 4 lots, my risk is going to be $231 (2.31%) and if I buy 3 lots my risk is $173.46 (1.73%). I'm okay with 2.31% as it's lower than 3%. Note that as your account balance grows (or if you have a higher account balance), you want to risk lower to be consistently profitable. Losing $200 may not hurt you but if you have $100,000.00 you don't want to risk $2,000.00 per trade. Sooner or later, you are going to have consecutive losses. Margin = Lot x Entry price = 4 x $1739.43 = $6957.72 After entering this trade, i will still have $3042.28 in my account balance. I have used only 70% of my account balance for this trade. SUMMARIZE: Risk = $231 = 2.31% of entire balance Margin = $6957.72 = 69.57% of entire balance Available balance = $3042.28 1. Target profit = $289.04 1. Target probability is lower than 45% (by the day of execution) 2. Target profit = $775.28 2. Target probability is lower than 40% (by the day of execution) DISCLAIMER: I'm not a financial advisor. This article is shared for educational purposes only and should not considered financial or investment advice. Please do not follow my trades. Please remember to follow me on TradingView Trade safe, Atilla Yurtseven
NASDAQ:AMZNLong
by AtillaYurtseven
AMZN @ Daily @ Crucial Days until Christmas (year end 2016)AMZN lost -16,83% from it`s all-time by 847.21 (2016/10/16) until 710.10 (2016/11/14) Meanwhile the 2nd main upside trend broked also - with a GAP! And this GAP is also the 1st target to get back on a bullish track. I am slightly optimistic, but i want a visual evidence - want to see the shares even to trade between 789.49 & 815.43. Buying before is also an oppurtunity, `cause the downside trend, which even breaked the 2nd main upside trend was left behind while last wednesday trading day ... How ever, maybe i am too kosher !? But i want to see the share even trading out of the downside trend - even between the GAP, if it has to be ?! And from thi points of view, all in all, i am still pretty neutral - and would like go long much higher over next week, if even the broked downside trend holds ... Possible short-term target for bears are, in my opinion : 736.70 2nd leg of the w-wave 710.00 1st leg of the w-wave Possible short-term target for bulls are, in my opinion : 792.40 lower middle high of the w-wave & end of the extended downside trendline 843.09 start of the extended downside trendline For mid-term trendfollower traders the all-time high (847.21) could be a support line to get long - even like the alll-time high from last year by 696.44 (2016/12/29) for bears to get mid-term short once again ... Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
NASDAQ:AMZN
by Devise2Day