This looks like a diamond pattern on AMZN.
I have taken puts here with the stop just a little way above (it would have to break this level to invalidate the pattern in my view).
The diamond pattern is clear.
There is the initial high, the low, the higher high, the lower low, and the return to the original range.
I have no idea why or what fundamental reason could cause AMZN to dip here, but, fundamentals don't work in this market and I have to trust the price action (but with tight stops and take profits naturally)
If it resolves, it will conclusively break the lower trendline. I suspect that the bottom will be the point-of-control on the volume profile.
If it invalidates, it will take out the September highs and this will correlate to the SPX and NDX melt-up.
Trade carefully and watch this form closely.
I have taken puts here with the stop just a little way above (it would have to break this level to invalidate the pattern in my view).
The diamond pattern is clear.
There is the initial high, the low, the higher high, the lower low, and the return to the original range.
I have no idea why or what fundamental reason could cause AMZN to dip here, but, fundamentals don't work in this market and I have to trust the price action (but with tight stops and take profits naturally)
If it resolves, it will conclusively break the lower trendline. I suspect that the bottom will be the point-of-control on the volume profile.
If it invalidates, it will take out the September highs and this will correlate to the SPX and NDX melt-up.
Trade carefully and watch this form closely.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.