Hey traders
Here i have shared the possible move of Amazon. It has been making lower lows and lower highs in the price action, so technically once it's reach the daily resistance that i have marked it is a sell side trade. But with all the news all over it may break the resistance and move up again. So we will wait for a clear rejection or break of the zone. If there's a rejection we short the stock and if it breaks the zone we take the buy side. I have marked the highest targets on both side trade, it you who should decide what your Target should be. However even though there's a chance for the stock to go the buy side Target, i don't think it'll get to the sell target, atleast for now. What ever side you take put your SL above or below the marked zone.
Good luck.
Here i have shared the possible move of Amazon. It has been making lower lows and lower highs in the price action, so technically once it's reach the daily resistance that i have marked it is a sell side trade. But with all the news all over it may break the resistance and move up again. So we will wait for a clear rejection or break of the zone. If there's a rejection we short the stock and if it breaks the zone we take the buy side. I have marked the highest targets on both side trade, it you who should decide what your Target should be. However even though there's a chance for the stock to go the buy side Target, i don't think it'll get to the sell target, atleast for now. What ever side you take put your SL above or below the marked zone.
Good luck.