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Amznshort

(4h) The Amazing Options // AmazonNASDAQ:AMZN From left to the right: Higher high at $847 and with a 5 waves correction it forges one major 1st wave of a potential deeper corrective structure at $710.10; From there, the price bounced into a consolidation period, not over yet, and we have 3 basic options here: - 1st. ABC correction is done (3 waves) and the price will break the symmetrical triangle in the direction of the previous and most recent trend; (Red) - 2nd. More complex structure with a 5 waves structure as an ABCDE pattern, and the same, the price should break the symmetrical triangle in the direction of the previous and most recent trend; (Blue) - 3th. The price will violate the previous most recent Higher's around the $792.26 and will forge an ABCD pattern (the example shows an ABCD pattern where the movement from A to B is equal to C to D, and in that case, it will print us a bearish advanced pattern, as a Bearish Bat; (Black ab=cd, and harmonic at Brown) That said, obviously, i am expecting a bearish breakout of the symmetrical triangle... Bullish butterfly pattern completion point right above the confluence price zone between the extension of previous moves, by default it will be forged at 127% extension but we have confluence between the 141% and the 150%, it should or may represent some source of psychological pressure zone (in lack of better expression) and it is also the previous structure low's, this alone will put some pressure on for sure... Safe Trades;
NASDAQ:AMZNShort
by Andre_Cardoso
1
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