AMZNCL trade ideas
AMAZON.COM Daily Candle AnalysisAMAZON.COM Daily Candle Analysis
daily candle looks that there is a good buying around 95 stop loss 90 for the target of 103 and 108
--------------------------------------------
in a long term chart its trading in a Down Trend so around 108 according to price action
we can take short position
AMAZON VERY IMPORTANT CONSOLIDATION - ABOUT TO BREAK .WHY BULLISH ?
REASONS :
1 . A Long Consolidation And W Pattern ( Which Are Very Important In Terms Of Trend Decider ) Have A Breakout As Seen In The Graph Shared .
2 . Rsi Divergence Breakout Is Also Visible In The Graph .
3 . Best Part Is - As I Am Writing This Article - The Global Market Sentiment Has Gone Bullish - Right Now As I Write This - Global Market Is Up Over An Average Of 2 Percent Which Is Highly Supporting The Breakout .
4 . One is to Two point Five Risk Reward Ratio Can Be Achieved.
5 . Still Best Entry Comes When Day Candle Is Closed Above This Box Created In The Graph Else 1 Hr Candle Has Given The Breakout Still Day Candle Will Give Better Confirmation .
10 Percent at 129 ( and 15 Percent at 136 if price action supports) can be achieved .
Warm Request - Kindly Comment If Anyone Find This Information Helpful Or Anyone Who Takes Position In This After Reading This Article .
AMAZON Consolidation Monthly-TimeframeIts very important that the price remains within the parallel consolidation channel. The price should remain in the 2880-3550 consolidation range. As soon a monthly closing happens above or below this channel , we can expect a violent move in that side. Till then bid your time and watch out the VCP pattern playing out