AMZN losing short term steam & needs pullback.
By:TradingView
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After the most recent breakout and rally from AMZN; we’re now seeing it print a rising wedge.
I am particularly i treated in a short term downside move to fill two gaps below.
- first gap below is between 240-241.75
- second gap is between 233.60-235.20
Entry: I’m looking for a 4H candle close below the bottom trendline of the rising wedge.
Stop loss: close above the top of wedge.
TP1: $240
TP2: $235
TP3: past bottom of second wedge $233.60
I like the 5/8 $240 or $235 strike puts.
Play is invalid with a 4H close above the wedge forming another bullish breakout.
Happy trading.
I am particularly i treated in a short term downside move to fill two gaps below.
- first gap below is between 240-241.75
- second gap is between 233.60-235.20
Entry: I’m looking for a 4H candle close below the bottom trendline of the rising wedge.
Stop loss: close above the top of wedge.
TP1: $240
TP2: $235
TP3: past bottom of second wedge $233.60
I like the 5/8 $240 or $235 strike puts.
Play is invalid with a 4H close above the wedge forming another bullish breakout.
Happy trading.
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