Econ factors: Fed to lower interest rates, weakening USD
Weekly: Downtrend
Daily Factor: LHs, LLs
Hourly: Identify a place where liquidity is strong to go short.
Hi
I am very encouraged by my PLTR trade idea to test 116, 121 in my previous post. They certainly do respect the Fib Extension levels.
This time, I am applying Fib Retracement to AMZN, which I think will bounce back to 0.28 (222) , 0.38 (226) and even 0.5 (229) , from it current levels of 216.
Secondly if you observe the daily charts, everytime RSI dips...
Watch out for 0.5, 0.68 Fib levels.
Pltr is experiencing a Wave 3. In theory we should watch key levels at 116 , 121 and perhaps take profits if it hit that before a Wave 4 retracements.
