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AMZN - 1/8/20 intraday levelsInteresting night last night... pre-market isn't compelling in either direction so I'm not going to try to predict direction. To my eyes, both AMZN and the market could go either way. I will note that we are trading a lot of volume at this price, which would great a good support level for bulls if we can hold above that $1901.82 area. resistance levels Yesterdays high at 1913.89 is the first level to take out. $1917.51 is a level that personally have my eye on as a more important resistance level based on historic price action. 1925.56 minor resistance, and then 1942.00 another level I'm watching closely. support levels We've got a few minor levels just below us if we decide to pullback. I've brightened up the levels that I'm watching closely. Notice we also have some fib confluence on some fo these levels for this swing low/high. Watching 1894.89 area closely as the volume at price for that level is the point of control over the past 10 or so days. Fib .382 retracement has some price history, minor. Watching the 50% retracement which has had some price respect but not a lot of volume at price. Next level down is 1876.50 area, decent volume at price and previous respected level. Finally, last nights bottom near 1853.66 has seen respect. Those are the levels I'm watching. If we can catch a bid above $1901.82 level I think AMZN has some real upside potential due to limited overhead resistance.
NASDAQ:AMZN
by danbeaulieu
AMZN - breached a key level for the bulls!We've been tracking AMZN for a few days now. View my initial post here : We're sitting on top of our key level the 61.8% retracement level off of all time high ($1901.88). We've respected this level historically and again in recent history. If we can turn it into support , I very much like a swing entry towards $1942 or better from this level. I've zoomed out to the 4 hour chart so we can see the big picture here. As we can see by the volume profile, there is not a lot of resistance above this $1901.88 level. If we can get the market to blow in our direction we have strong upside potential. But this was always the goal. We do have a possible rising wedge forming, but its unconfirmed so I've sketched it out with dotted lines. Just something to keep an eye on. Day trading levels Resistance , If we can hold above $1901.88 and build from there, the next level of resistance I see is 1917.51, followed by a move to 1942.00! Support, If we fail to hold onto $1901.88 and the levels just below it down to $1900, I'm watching $1881.85 to hold as support. My sentiment I cannot call out bullish yet until we've proven that $1901.88 is our support. But it's a great sign we've broken this level. If we can turn this level into support I'm long for a swing. Otherwise, we'll fall back into the chop for a while longer.
NASDAQ:AMZN
by danbeaulieu
Wait for Daily Zone Retest and BIG BUY for potential 500 pips!!! I chose to use H4 Chart to show because its clear. This analyis is using the Daily and weekly time frame for higher validation. GJ has made a major push up and broke through consolidation box or prior Daily ROOF, major momentum showing that BULLS are in charge. Now pullback should happen to one of the Fibs levels, I have them all colored 38 50 and 61! I will be looking to make my entry at 61.80 but if at 50% it has a great rejection wick or engulf Ill get in there even though its not the most Ideal. That is PLAN A! it also coincides with uptrend on daily and weekly. Plan B is if it breaks past all fibs levels I will wait until trend line break or break of Daily consolidation bottom to sell it down! This I feel is unlikely but at the end of the day PLAN B! SIDE NOTE- If you look at the PAST of this pair, you will see that it does not like to stay this low, the pair likes to stay in the middle so I believe it is working its way back to the normal price points. Look at monthly to see what I mean as well as weekly!
Long
by tayg23
Not Getting Too Excited yet...here's why. **BTCUSD** Looking at the daily demand, we've now broken it and we REALLY need to hold this area and break out confidently from this descending structure, otherwise we're looking at the low 8's / high 7's in the short term. There is a bit of liquidity, where we ranged between 7.7 - 8.4 from the 26/09 - 26/10, which I wouldn't be surprised if we revisited again if we can't hold this area and move up. In regards to this wedge - to back it up we also have some bullish divergence on the CCI, where IF we break upwards, we could very well see a re-test of the 8.9k mark where we face some heavy resistance in the 50fibs and also our ichi. Lots of people been calling a bullish run lately and right now... I don't really see it and even with a break of this wedge i'd be cautious of jumping on any fomo run. Not in any trade currently, but always willing to change my bias depending on what's presented at the time.
COINBASE:BTCUSD
by Unity-Trading-Group
This area NEEDS to Hold..BTCUSD After another 24hr in bitcoin, it's not looking any better just yet. On the daily, we've pierced demand yet again, with a near perfect touch of the 61.8 fibs, with no new higher highs occurring. Sentiment remains the same from yesterday, although things aren't looking any better for the bulls at this stage. This daily doji represents indecision in the market right now, so until such time as we get a clear break into the cloud, or above our supply zone, we remain neutral. This area NEEDS to hold..
COINBASE:BTCUSD
by Unity-Trading-Group