Amazon Jungle

Apr 1

Was waiting to see if the blue curve holds in this project in order to decide to post these simulated projections that take into account potential pivot points, reversals, or zones for support/resistance and BREAKOUTS... in either direction, even though I am slightly bullish biased on this one.

I have this scenario in mind where this could find support somewhere at the white or continuing on the blue or towards the red for a more decisive push in case the Earnings don't upset the whole harmony in this picture.

If everything goes to pieces will be having an eye for the possibility of the blue curve becoming resistance with a retest.

Other lower probability scenarios are some impact zones around the green and purple rectangles. If the prices reaches the top curves it would be only as a reference to see the price action around them for potential validation of the simulation.

Apr 9

Note

A decent bounce from the blue curve and we might see some retracement potential/attempt. Will the blue hold again if it is retested? I don't know.

Apr 17

Note

Back at the blue and I am wondering if I should close my short. I prefer trailing stop mode on with the potential of a long in case the curves shows signs of holding with a green candle rebound from it.

Apr 18

Note

Here it is. Further confirmation for the resistance concept of the blue curve with 2 candlestick shadows at it, even if it turns out to be just temporary. I have no bias on this one yet and can't go long. I closed my short.

Apr 22

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Potential support at the white rectangle zone. Question would be if the blue gets a retest or ignored on the way up as earning report coming soon which means we might see a visit of the green rectangle in an optimist scenario.

Apr 25

Note

Retest of the blue

May 6

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I am not sure the green will act as full stop resistance here, but we could end up seeing the market near the purple rectangle eventually.

May 10

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If the day closes in the red with at least -1%, it could be a reversal or the start of a correction at the green rectangle.

May 15

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Retracement from the green. Potential support at the blue or red, or a retest of the green.

May 31

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I wouldn't call the project a complete success with the sequence of white-green-red visit of the rectangles, as I am also not convinced the price will bounce back for the little purple. This red zone could act as support/resistance eventually and it is a long one. Earnings report could be bullish enough and I am not sure this will drop much much lower even if it breaks the red and retests it.

Jun 3

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After the candlestick shadow at the corner of the red zone, follow up green candle worth considering. Not a great setup but it solidifies the question for the red zone if it will indeed hold as support.

Jun 6

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Update for the rebound from the red zone. Don't think it will go near the red. Let's see what happens at the purple if we get there...

Jun 12

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Added zones for the future.

Jun 27

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Late update for Amazon. The purple did a very interesting job. Not the end of the project yet, because of the newly added yellow. Looks bullish enough but I don't know for how long this will go on. Waiting for the price action signs and possibly another interesting surprise.

Jul 31

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This rebound from near the red plank should end the project right here before earnings report. Not sure why the following shapes were developed like this but I wouldn't be surprised if this ends in the red zone polygon regardless of the nature and impact of the upcoming report...

Jul 31

Note

End project.