AMZN pullback to $196
MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
(Buy puts or buy AMZD)
Price at top of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at overbought level
VBSM spiked positive
Price at Fibonacci level
In at $205.25
Target is $196 or channel bottom
Stop loss is $208
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
(Buy puts or buy AMZD)
Price at top of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at overbought level
VBSM spiked positive
Price at Fibonacci level
In at $205.25
Target is $196 or channel bottom
Stop loss is $208
Trade closed: stop reached
VBSM indicator on 15min-Daily time frame remains green. Next short entry is at $215.40 area.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.