Oct. 7 at 2:42 AM
$AMZN Has been trading like 💩 but we are setting up for a move very soon.
This could be an
$AMD scenario, we created a range and swept the previous lows followed by buyers stepping in and bringing price back up.
I see Amazon continuing up because well it’s Amazon and technicals are lining up for a move up.
Two things can happen, we breakout of the range to the upside and confirm a break with a close and hold above
$225, then target the blue lines marked for the TP 1 and TP 2.
Or we break below
$216 and continue to sell off. I am leaning more towards the upside and will watch this close this week.
We also have a bearish imbalance we created Friday and if we inverse that, it will add confluence to the move up. I am only considering longs once we break above
$225 and hold.
