Aug. 19 at 2:52 PM
$AMZN soon we ought to see traders flip from squawking about filling ER breakaway gap down to upper common gaps we can slice through UP. Common gaps fill 70% of the time vs breakaways only 30%.
Fair value gaps (FVGs) are a price action concept — they're inefficiency zones where price moved quickly, leaving an imbalance. The main ones sitting above current price that traders are watching are:
$263–265 — near-term resistance from recent consolidation.
$273–275 — a stronger level from the August swing highs.
$282–287 — the big one, right around the all-time high from early August.
The
$287 area is the most significant overhead gap/resistance.
