AMAZON - Potential Bearish Reversal!

Jun 29, 2021

Hello everyone, if you like the idea, do not forget to support with a like and follow.

AMZN is trading inside that big range from Daily timeframe and it is currently sitting around the upper bound / resistance so we will be looking for sell setups on lower timeframes.

on H4: AMZN is forming a trendline in red but it is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)

Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)

Until the sell is activated, AMZN would be overall bullish and can still trade higher.

If it breaks above the blue resistance with many big bullish daily candles, then the resistance would become support and we will be looking for buy setups on its retest.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich