AMZN: Sell ideaSell idea on AMZN as you can see on the chart if only if we have the breakout with force the support line by a big red candle.
AMZN trade ideas
$AMZN, Bullish Towards $195Hey ya'll,
The chart above highlights Amazon ( NASDAQ:AMZN ) on the daily timeframe.
I've added #thestrat indicator, MACD, and RSI indicators.
I've marked the Fibonacci price points from low (Aug 28) to high (Sep 24).
Normally, I would've gotten in at the 0.618 fib retracement ($179.02) or the 0.5 fib ($182.15) but I would still take a 3+ week out options contract.
If price goes above Fri, Oct 7th high of day (HOD) @ $187.60, but 1 strike out of the money.
If price opens below Fri, Oct 7th's HOD, wait for it to either reversal at the previous low of day (LOD) or at whatever point.
Entry: $187.61 (above prev daily high)
Target: $190.86 (Fri, Sep 27 open price)
SL: $185.13 (tight under 0.382 fib)
R:R = 1:1.32
MACD = curling up
RSI = curling up, low 50s
Potential Contracts:
$190c 11/15 @ $8.00 (ITM)
$185c 11/15 @ $10.55 (1 OTM)
AMZN: TA for tomorrow (10/07/2024)Key Levels:
Resistance Zones:
187.57: A significant resistance level that price has struggled to break above. A breakout above this could signal more bullish momentum.
186.61: A near-term resistance level where the price is currently consolidating. A break above this level could act as confirmation for more upside movement.
Support Zones:
186.03: Immediate support just below the current price level, which is being tested. A break below could lead to further downside movement.
181.96: This is a more significant support level that held previously. If price moves downward, this level could act as the next major support.
180.93: Strong support at this level, with a recent bounce, suggesting buying pressure here. A break below could signal more weakness towards 179.40.
Price Action:
There was a sharp decline in AMZN’s price before stabilizing around 181-180 levels. The bounce from that area has brought it back toward resistance levels, but the upside momentum seems to be stalling.
A descending trendline from the highs shows a longer-term bearish trend, although the price action over the past few sessions indicates a potential short-term recovery.
The current consolidation around 186-187 suggests that the market is indecisive and waiting for a catalyst to break out of this range.
Volume Analysis:
There was a spike in volume during the recent downward move, followed by decreasing volume during the consolidation and small recovery. This could indicate weak buying pressure at higher prices.
A volume spike during the test of 187.57 would be needed to break this level convincingly.
Indicators:
Oscillators indicating a possible divergence, suggesting weakening bullish momentum. Watch for any signs of bearish reversal patterns.
Strategy for Tomorrow:
Bullish Scenario: If AMZN breaks above 187.57 with strong volume, it could push higher towards 190 or beyond. The immediate resistance after that could be near 192-193.
Bearish Scenario: If AMZN breaks below 186.03 or 181.96, it could move towards testing the lower support at 180.93. A breakdown here could trigger further selling pressure, with the next target near 179-177.
Entry/Exit Points:
Bullish Entry: If AMZN breaks above 187.57, consider entering a long position with a target of 190 or higher. Place a stop-loss just below 186.03 to manage risk.
Bearish Entry: If AMZN breaks below 186.03 or 181.96, consider a short position with a target near 180 or lower. Use a stop-loss above 187.57 to limit risk.
Watchlist:
Breakout above 187.57: Watch for volume confirmation and price action above resistance.
Breakdown below 181.96: Increased selling pressure may occur if this level is breached.
Long AMZN (but not for long) @ 183.13Thesis: AMZN is oversold according to my algo. The end.
OK just for everyone else who doesn't know that all my trades are run by my algo, I'll spice it up a little with this chart and some fundamental news just for that crowd.
The blue line shows very strong long term support going back to late 2022 - tested and held 3x.
The white line is short term support from the previous high before the most recent one set on Sept. 24th. While it won't matter to me if AMZN breaks through this, it would be a slight negative. I don't expect it to break this before a little run up, however. It certainly could, though.
The orange line is medium term support from the August 28th low. Incidentally, that's the last time my algo considered it oversold and it proceeded to rally around 13% after that.
Short term, the green triangle is a somewhat neutral triangle, but given that the bottom is steeper than the top, it was tested and held today, and the triangle is part of a strong longer-term uptrend, it gets a mildly bullish vote from me.
Finally, Deloitte, Mastercard and Adobe all came out with holiday sales forecasts predicting an anywhere from 7-10% increase in online holiday sales this year vs. last year. That's fundamentally bullish for AMZN.
The east coast longshoremen's strike is not especially bullish, but I imagine that most of AMZN's purchases that ship from overseas come from East Asia, rather than Europe, so I don't see that as a huge negative...YET. If it is a protracted strike and starts to affect the economy at large, then I think it's going to affect AMZN too.
My trade will hopefully be a short term trade, expecting a rebound, rather than a trade long enough for the strike to seriously affect the stock. I wouldn't personally get concerned unless AMZN breaks the blue trend line with force. Even then, AMZN is not going away.
If the rebound takes longer and it stays oversold, I'll add more lots and I'll sell when each lot becomes profitable. This is ideally a quick win trade, allowing me to cycle the proceeds into another idea, not a big win trade. In the last 12 months, that strategy is 19-2* on AMZN (the 2 are still open trades from early July).
This is entertainment, not financial advice, so don't take it as such. DYOR and make wise investment decisions based on it. I'll update this as buys or sells are made.
AMAZON BUY SETUP UPDATEFrom my last post, price entered our demand zone and is reacting by giving a strong push on the 4hr
AMZN BUY ANALYSIS FALLING WEDGE PATTERNHere on Amzn price form a falling wedge pattern and now try to rise so there is chance of going up as the line 185.25 has broken so going for LONG is needed and the targeting profit should be around 188.66 and 191.50 . Use money management
The 3 Steps To Risk Managment Using The Rocket Booster Strategy.The rocket booster strategy is something
i have been
practising since I started trade
journals here
on Tradingview.
It took me about about 48 hours and 48 days
of studying to master this
strategy in my brain it's very simple
but do not underestimate its power
I want to show you risk management.
On this chart is the rocket booster strategy
But there is a difference.
On the chart, I have shown you a buy-limit order
and a take-profit order.
Here are the 3 steps to risk management
and profit-taking
using the rocket booster strategy for this
stock NASDAQ:AMZN :
#1-Place a buy limit order on the 50 EMA or near it.
#2-Place a take profit order on the resistance
level measured by the Bollinger bands.
#3-Do not overleverage your position-
Use margin but not too much!
Now that you know I encourage you
to read this article at least 33 times
to master this strategy.
Rocket boost this post to learn more.
Disclaimer: Trading is risky you will lose money
whether you like it or not. Please learn risk management and
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AMZN Support TestAMZN quickly sold off after a brief move up above 190 and near ATH. It had a nice ascending wedge break as well. It's currently in a range from about 190-183, we also have an uptrend support line just below that started back at the August lows.
We could see a big flush below 183 if it breaks and also falls below the uptrend from August. First target for me would be somewhere in the 175-170 area. I like the support around 175 and there's also a gap fill around 172.
If it holds above 183 and maintains the uptrend from August, first upside target would be supply near 188 and then 190 again.
AMZN PUTSAmazon (AMZN) recently broke down from an uptrend wedge pattern, signaling a potential shift in momentum. The latest earnings report revealed disappointing revenue growth, rising operational costs, and a slowdown in AWS, raising concerns about future profitability. $160 area target.
The strikes in Iran and among port workers could hit Amazon pretty hard. If ports get backed up, it could slow down shipping and lead to inventory shortages, making it tough to keep products in stock. Plus, if shipping costs go up, that could eat into profits. With all this chaos, consumer confidence might drop too, which isn’t great for sales. Overall, these disruptions could really hurt Amazon's bottom line in the near future.
Amazon $AMZN - Next leg up??There is a 3 day time at mode bullish trend thathas just been triggered and is set to expire on Oct 7.
Ideal re-entry upon a retrace toward mid $170's or upon a bullish break above $190.
Weekly timeframe had a massive bullish engulfing bar on last week's close which adds confluence.
This is the hallmark of the 13 EMA SystemYesterday were heavy winds
in town...a sign of the rainy season about to start soon.
I bought some sweet milk
This time I had no crackers because I had eaten some
bread earlier that day.
-
When you look at this chart NASDAQ:AMZN I want you to notice the following
-The price is below the 13 EMA
This is the hallmark of the 13 EMA System
👉To learn more rocket 🚀boost this content
⚠️Disclaimer:Trading is risky please learn risk management and profit taking strategies.
AMZN - PUTSAmazon (AMZN) recently broke down from an uptrend wedge pattern, signaling a potential shift in momentum. The latest earnings report revealed disappointing revenue growth, rising operational costs, and a slowdown in AWS, raising concerns about future profitability. $160 area target.
AMZN, short, Entry: 185.32, Stop: 186.38, Timeframe: 4h**Trade Type:** short
**Ticker:** AMZN
**Entry Price:** 185.32
**Stop Loss:** 186.38
**Take Profit 1:** 184.42
**Take Profit 2:** 183.47
**Risk/Reward Ratio:**
**Timeframe:** 4h
AMZN: Will Port Strike Affect AMZN? No bias, just based on TA
Current Price Action
AMZN is currently in a downtrend, forming lower highs and lower lows, indicated by the descending channel on the chart.
Price is consolidating around $185.67, which suggests the potential for either a short-term bounce or continued bearish momentum.
Support and Resistance Levels
Resistance Levels:
$189.55 - $190.16: This zone has been a significant resistance area where previous attempts to break higher were rejected. If the price rises, watch for resistance at this zone.
$194.85 - $195.37: Should AMZN see a strong bounce, this area would be the next target, which also aligns with previous peaks.
Support Levels:
$185.67 - $184.66: Immediate support zone, where the price is currently hovering. A break below this level could signal further downside.
$180.00: This is a psychological and technical support level that could attract buyers if AMZN continues to slide.
Entry and Exit Points
Bullish Entry:
If the price manages to break above $190.16 with solid momentum, this could indicate a reversal of the current downtrend, offering a long entry opportunity. Look for confirmation with increased volume.
A possible target for this bullish move would be the resistance at $195.37.
Bearish Entry:
A failure to break above $189.55 and a subsequent rejection or breakdown below $185.67 would present a potential shorting opportunity. The next target would be $184.66 and possibly $180.
Exit Points:
Bullish Exits: Around $190.16, or $195.37 if there’s strong momentum.
Bearish Exits: Targets would be $184.66 or further down at $180.
Suggested Direction for Tomorrow
Bearish Bias: Given the current downward channel and lack of strong bullish indicators, the bias seems to be bearish. If AMZN fails to break through the $189.55 - $190.16 resistance zone, the downtrend is likely to continue.
Bullish Case: If there’s a bounce and AMZN can break above $190.16 with strong volume, it may signal the start of a reversal, targeting the $194.85 level.
Amazon may have a minor correction before the 260 & 300 targetsWeekly chart, the stock NASDAQ:AMZN is trading in a rising expanding wedge, and the path should be hitting the resistance line R at around 230 after a little correction to around 170
Trading above 230 for 2 weeks will drive the price to 260 then 300
Note: As the current price is far from the support level (line S), a suitable stop loss level should be considered and monitored.
AMAZON buy set upIts on a daily uptrend. Theres a BOS on the 4hr/ Waiting for a retest for a continuation
$AMZN: Fast Rebounds Reveal Fundamental Support LevelThe new technologies that Amazon is embracing, including robots/robotics, and a brilliant CEO keep this huge company moving forward.
The HFT-driven gap down in August was massive but the rebound was fast. This isn't the first time the stock has moved right back up to its prior quarter's fundamental support range, aka Dark Pool Buy Zone.
Now, NASDAQ:AMZN is slightly above that range to challenge the July high. A stock to watch ahead of its earnings report October 24th.
AMZN may form a wedge on the daily chart.NASDAQ:AMZN reclaimed the daily 50 SMA last week and is trading into the August high supply. If it gets rejected in this area, a retest of the lower trendline would correspond to the daily 50 SMA, and other converging demand zones including the .618 retracement level from the all-time high to the August low. If demand is held in this area, it may be a good long entry point ahead of the wedge breakout. Alternatively, if price builds above the August high, it is likely to retest the all-time high.
AMZN LONG ABOVE 180Watching this potential breakout here as long as price holds above the orange circle to target 230.
Void below 180.
AMAZON - POTENTIAL BULLISH TRENDTrend bullish on 1H and 4H
Bearish divergence on three previous HH but it's still making a series of HHs and HLs. Also, it doesn't have a bearish divergence on the most recent HH. Therefore, I feel it's going to continue the trend and I'll buy it once it breaks the previous HH.
Entry - Buy Stop - 196.00
Stop Loss - 189.00
TP1 - 203
TP2 - 210
No leverage trade
How to Trade with the Island Reversal PatternHow to Trade with the Island Reversal Pattern
Price action analysis serves as a pivotal methodology in financial markets, offering a means to assess and determine the future price movements of various assets, including stocks, currencies, and commodities. Among the many tools employed within this method, the Island Reversal pattern stands out as a significant indicator of potential trend reversals.
What Is an Island Reversal Pattern?
The Island Reversal is a technical analysis pattern that signals a potential trend reversal. It typically occurs after a strong uptrend or downtrend and is characterised by a gap in price action, isolating a group of candlesticks. The pattern suggests a shift in market sentiment, indicating that the previous trend may be losing momentum.
How to Spot an Island Reversal in the Chart
To identify the setup, traders pay close attention to the following characteristics, which can manifest in both bullish and bearish market conditions:
Strong Trend:
- Bullish: This pattern often materialises after a prolonged downtrend. It signifies a potential price change to the upside.
- Bearish: Conversely, in a bullish market, the pattern emerges following a sustained uptrend, suggesting a possible change in a trend to the downside.
Gap in Island Reversal:
- Bottom Island Reversal: In a bullish context, there is a gap down, creating an "island" of isolated candlesticks, indicating a shift from bearish sentiment to potential bullish momentum.
- Top Island Reversal: For a bearish reversal, there is a gap up, isolating a group of candlesticks, signalling a transition from bullish to potentially bearish market sentiment.
Isolation:
- Bullish Island Reversal: The gap is created by an upward movement that is isolated from the surrounding price action, forming the characteristic island formation.
- Bearish Island Reversal: In a bearish context, the gap is formed by a downward movement that does not overlap with the previous, creating a distinctive island formation.
How to Trade the Island Reversal
Traders employing the setup adhere to a systematic strategy for identifying and capitalising on a potential change in a trend. Patiently awaiting confirmation of the reversal through subsequent price action, traders enter the market upon the break of isolation, where the price decisively moves below (for a bearish scenario) or above (for a bullish scenario) the isolated island. Profit targets may be set by considering key support and resistance levels to potentially enhance precision.
The placement of stop-loss orders just above or below the pattern is a critical risk management component. Traders carefully assess the risk-reward ratio to align potential profits with associated risks. This holistic approach reflects a commitment to disciplined decision-making, combining technical analysis and prudent risk management in navigating the complexities of financial markets.
Live Market Example
The TickTrader chart by FXOpen below shows a bearish setup. The trader takes the short at the opening of the new candle below the Island. Their stop loss is above the setup with a take profit at the next support level.
The Bottom Line
Although the Island Reversal is a popular technical analysis tool, it's crucial to wait for confirmation and consider other technical indicators to potentially increase the probability of an effective trade. As with any trading strategy, risk management is key to mitigating potential losses. Always adapt your approach based on the specific conditions of the market and use the pattern as one of several tools in your trading arsenal. To develop your expertise, open an FXOpen account to trade in numerous markets with exciting trading conditions.
FAQs
Why Is Risk Management Important When Trading the Island Reversal?
The pattern is considered a strong signal of a change in the price direction, but like all technical patterns, it is not infallible. There is always a risk that the pattern may fail to lead to the expected price movement. Effective risk management helps limit losses in case the trade doesn't play out as anticipated.
Should Traders Solely Rely on the Island Reversal for Trading Decisions?
No, traders always wait for confirmation and incorporate other technical indicators to potentially enhance the probability of an effective trade. The pattern should be regarded as just one of several tools in a trader's toolkit.
Is There a Platform Where Traders Can Apply Their Knowledge of the Pattern in Live Markets?
Yes, traders can explore FXOpen’s free TickTrader trading platform to trade in over 600 markets and apply their understanding of the pattern in practical trading scenarios.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
AMAZON STRONG BREAKOUT|LONG|
✅AMAZON is trading in an
Uptrend and the stock broke
The key horizontal level
Of 190.96$ so we are
Bullish biased and after a
Local pullback we will be
Expecting a further move up
LONG🚀
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Amazon - Buying Pullbacks & Cyclical High Expected SoonHere is what I am watching on Amazon.
-We need to be aware that there is bearish divergence setting up on the quarterly, monthly & weekly charts. HOWEVER, this divergence is not yet confirmed, and is therefore not actionable trade intel at the present moment. We need to monitor these divergences, because if they confirm, they imply significant price moves in Amazon share price.
-MAC strategy for the Quarterly, Monthly & Weekly charts remain bullish. Any pullbacks into the bottom of the MAC are BUY opportunities. I do not blindly buy the bottom of the channels, but utilize lower timeframe entry techniques at these levels to trigger into a position. We are still BULLISH Amazon.
-Cycles suggest that Amazon could put in a cyclical high any time between now and October 10th, before putting in a major cyclical low at the end of October. I would like to see this play out to provide us with nice buy opportunities at the bottom of the MAC's.
