AMAZON 1H FIB RETRACE LONG BREAKOUT

Price had a daily breakout.
1H chart shows bullish move.
Price is currently in a bearish 1H pullback.
Fib level drawn on 1H bullish swing low to swing high.
Waiting for price to retrace bearish from 38.2% to 61.8% fib levels.
Waiting for Price to breakout above descending 1H trendline.
Buy on a 1H close above 1H trendline.
TP is -61.8% fib level @ 1970
Find your own SL

Commento:

1st long trade - candle close above descending trendline
2nd long trade - candle close above swing high resistance level @ 1900.

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NASDAQ NOT NYSE

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Here is a Day Chart of AMZN.
Price may rach TP 1970 next week.

Commento:

I wrote this retrace unclearly. Price could retrace anywhere between 38.2% to 61.8% before it returns bullish continuation.

Commento:

Redrew descending trendline with new high wick

Commento:

waiting for a 1h candle close above 38.2% fib and trendline.