Amazon : Bullish divergence with long wick
Amazon ( AMZN) shows a bullish div on EFI, MACD-H. DMI shows +DI is ticking up slowly. Daily impulse is yellow (neutral).
This allows me to take the trade. I do see a kangaroo tail on the daily as well, with a good break of the back of the bear.
Looking at the 4H timeframe, I will try to enter around 1731. I clumsily was too late at and missed the 1725 opportunity.
Stoploss has been placed in the lower area of the kangaroo tail on the 4H timeframe at 1695.52
I'm looking to exit in the projected target zone, but will decide where and when while the trade develops.
Target area is between 1790 to 1850.
I have defined two target zones, and will decide if I get out there, or will stay and go for target zone 2. This depends on how the trade develops (power, volume, signs of weakness)
R/R Ratio: 1:1.8 / 2.5
4H timeframe:
This allows me to take the trade. I do see a kangaroo tail on the daily as well, with a good break of the back of the bear.
Looking at the 4H timeframe, I will try to enter around 1731. I clumsily was too late at and missed the 1725 opportunity.
Stoploss has been placed in the lower area of the kangaroo tail on the 4H timeframe at 1695.52
I'm looking to exit in the projected target zone, but will decide where and when while the trade develops.
Target area is between 1790 to 1850.
I have defined two target zones, and will decide if I get out there, or will stay and go for target zone 2. This depends on how the trade develops (power, volume, signs of weakness)
R/R Ratio: 1:1.8 / 2.5
4H timeframe:
Trade closed: target reached
Target has been reached, a bit disappointingly just the bottom of the zone. Exited Amazon.
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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.