AMZN 2/11/2022
AMZN
Jeff Bezos holds bags for no one. He left and had a yacht made so big a country needed to put apart a bridge in order to deliver it to him.
Do like Jeff and don’t hold the bag.
AMZN saw a short uptrend between April 2020 thru around Sept. 2020
Price then enters a price channel with a slight upwards tilt.
The channel lasted between Sept. 2020 thru Jan 2022.
Price broke down and has no pulled back to below the previous support level looking to turn it into resistance.
Above we have a death cross further signaling the bearish market for AMZN.
Price rejected 50ema. This is my que to enter trade.
Entering trade short
Entry: 3083.36
Stop Loss: 3397.00
Target: 2755.18– RR ratio 1.05. (Might possibly trade this with 10ema depending on how price interacts with target price)
Jeff Bezos holds bags for no one. He left and had a yacht made so big a country needed to put apart a bridge in order to deliver it to him.
Do like Jeff and don’t hold the bag.
AMZN saw a short uptrend between April 2020 thru around Sept. 2020
Price then enters a price channel with a slight upwards tilt.
The channel lasted between Sept. 2020 thru Jan 2022.
Price broke down and has no pulled back to below the previous support level looking to turn it into resistance.
Above we have a death cross further signaling the bearish market for AMZN.
Price rejected 50ema. This is my que to enter trade.
Entering trade short
Entry: 3083.36
Stop Loss: 3397.00
Target: 2755.18– RR ratio 1.05. (Might possibly trade this with 10ema depending on how price interacts with target price)
Trade closed: target reached
Exit: 2755.18– +10.64, RR ratio 1.05
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