AMZN: We nailed the TOP! What to expect next?
• Since our last analysis on AMZN, we nailed the top on it, thanks to our Multi Time Frame Analysis (MTFA) in the 1h and D charts (link to our previous analysis below this post, as usual);
• Now, AMZN is in a bear trend in both, 1h and D charts. In theory, it is supposed to fill gap at $86.82;
• Only if AMZN does a strong bullish reaction, and breaks the 21 ema (1h) we would see this bearish scenario frustrated;
• If AMZN reacts, and breaks the $101 area seen in the daily chart, it would trigger a mid-term reversal structure, a bullish pivot point;
• Therefore, this trend will be dictated on how it’ll react in the 1h chart, and if it breaks the $101 in the daily chart. I’ll keep you guys updated on this, but for now, let's kee these key point in mind.
Remember to follow me to keep in touch with my analyses!
• Now, AMZN is in a bear trend in both, 1h and D charts. In theory, it is supposed to fill gap at $86.82;
• Only if AMZN does a strong bullish reaction, and breaks the 21 ema (1h) we would see this bearish scenario frustrated;
• If AMZN reacts, and breaks the $101 area seen in the daily chart, it would trigger a mid-term reversal structure, a bullish pivot point;
• Therefore, this trend will be dictated on how it’ll react in the 1h chart, and if it breaks the $101 in the daily chart. I’ll keep you guys updated on this, but for now, let's kee these key point in mind.
Remember to follow me to keep in touch with my analyses!
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