AMZN
מעודכן
Looking at Amazon on the monthly chart
If you want to know what parabolic looks like, here is a great example.
Internal indicators:
* RSI heavily over bought and creating bearish divergence
* W%R very over bought and embedded
* Histogram has made a Lower Low that hasn't resolved itself yet and also creating bearish divergence
* OBV is still up and healthy due to the amount of money being poured into this asset.
* Many monthly gaps down in price that still are yet to be filled in
* VPVR is extreme running on single ticks ie not a lot of volume was traded on the move up
* Fib study done off the entire range
My opinion:
Just remember that the top still hasn't been put in yet, so this could still run higher. This is just a reminder that this asset is very over bought and people should be thinking twice about taking a long setups or investing in it long term. From the bottom of the range to the top AMZN has done approximately 18,000% (let that sink in) without a healthy retrace. We also have to take into consideration that AMZN has been in a range for 80% of its existence and has now been trending upwards for 20% of the time. (Investopedia) 80-20 Rule-
The 80-20 rule says markets trend about 20% of the time and spends the other 80% grinding through trading ranges, pullbacks, and other counter-trend action that tests boundaries. Price rate of change rises in trends, attracting the trend trader and falls in trading ranges, attracting the swing trader.
If you like what I do, drop a comment, tell me what you think and don't forget to like and subscribing. Thanks :)
Also don't forget to "plan your trade and trade your plan"
If you want to know what parabolic looks like, here is a great example.
Internal indicators:
* RSI heavily over bought and creating bearish divergence
* W%R very over bought and embedded
* Histogram has made a Lower Low that hasn't resolved itself yet and also creating bearish divergence
* OBV is still up and healthy due to the amount of money being poured into this asset.
* Many monthly gaps down in price that still are yet to be filled in
* VPVR is extreme running on single ticks ie not a lot of volume was traded on the move up
* Fib study done off the entire range
My opinion:
Just remember that the top still hasn't been put in yet, so this could still run higher. This is just a reminder that this asset is very over bought and people should be thinking twice about taking a long setups or investing in it long term. From the bottom of the range to the top AMZN has done approximately 18,000% (let that sink in) without a healthy retrace. We also have to take into consideration that AMZN has been in a range for 80% of its existence and has now been trending upwards for 20% of the time. (Investopedia) 80-20 Rule-
The 80-20 rule says markets trend about 20% of the time and spends the other 80% grinding through trading ranges, pullbacks, and other counter-trend action that tests boundaries. Price rate of change rises in trends, attracting the trend trader and falls in trading ranges, attracting the swing trader.
If you like what I do, drop a comment, tell me what you think and don't forget to like and subscribing. Thanks :)
Also don't forget to "plan your trade and trade your plan"
הערה
Ok, so ive got heaps of comments telling me how bullish they are on AMZN, sure it went to new all time highs but im sorry, this chart and candle pattern tells a thousand words הערה
כתב ויתור
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