AMZN-Forming the right hand side of the chart-MTF analysis

Tomorrow if AMZN breaks today’s inside candle to the downside and closes below 3173, that would create a compound 2 down taking out the previous inside day to the downside. This could in turn create a compound 3 down on the weekly if it continues down next week and takes out 3064.55. Then we possibly trigger the monthly which is a 1 down doji now, to possibly go 2 down next week and take out last months lows at 2948. Let see what she does. There is a lot of month left. But if you are able to form the right hand side of the chart in your mind ahead of time, this is an edge and where big money can be made especially on the longer TF.

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So Far AMZN has taken yesterday's inside candle out to the downside. We'll see how she finishes and where she closes today. Much indecision and divergence in the markets right now.

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So we broke that first level with a close below 3173. Next week we will see if she forms a compound 3 down candle on the Weekly TF and closes below 3064.55 taking out longs. If she goes, next stop is most likely 2950 area.

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So AMZN closed at 3104. So far, it is on its way to creating that compound 3 otherwise known as a compound outside or engulfing bar on the weekly TF. Next target is $3064. There is no guarantee of course, and this is not investment advice, it is just what I saw when I looked at the larger TFs- D, W, M the end of last week.