Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), we were looking for buy setups short-term as AMZN was sitting around a strong support.
AMZN rejected the 80.0 support and traded higher. However, we are still overall bearish trading inside the falling channel in blue.
🏹 For the bulls to take over long-term, we need a break above the upper blue trendline and blue zone 110.0
📉 Meanwhile, the bears can still push lower for a higher low. In this case, as we approach the 80.0 again we will be looking for new short-term buy setups.
Which scenario do you think will happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached on the chart), we were looking for buy setups short-term as AMZN was sitting around a strong support.
AMZN rejected the 80.0 support and traded higher. However, we are still overall bearish trading inside the falling channel in blue.
🏹 For the bulls to take over long-term, we need a break above the upper blue trendline and blue zone 110.0
📉 Meanwhile, the bears can still push lower for a higher low. In this case, as we approach the 80.0 again we will be looking for new short-term buy setups.
Which scenario do you think will happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich