The key is whether it can be supported around 224.93-228.97

Hello, traders.

If you "Follow", you can always get new information quickly.

Please also click "Boost".
Have a good day today.

-------------------------------------

(AMZN 1M chart)

It is already showing an upward trend.

The point to watch is whether it can maintain the price by rising above the Fibonacci ratio 1 (238.57).

If it fails to rise, it is expected to fall to around 172.55-186.98.

-
(1W chart)

Since the BW indicator is maintained at the 100 point, even if the price rises, it will eventually show a downward trend.

Accordingly, the key is whether the price can be maintained above the Fibonacci ratio 1 (238.57).

If not, it is expected to touch the MS-Signal (M-Signal on the 1W chart) indicator.

If it falls further, it is necessary to check whether there is support near 176.77-188.07.

-
(1D chart)

The HA-High indicator is showing signs of being created at the 224.93 point.

Accordingly, if the HA-High indicator is created at the 224.93 point, the key is whether it can be supported near this point and rise above 228.97.

If it falls after the HA-High indicator is created, it is important whether it can touch the MS-Signal (M-Signal on the 1D chart) indicator and rise.

If not, it is likely to touch the M-Signal indicator on the 1W chart.

-
When the StochRSI indicator falls and maintains in the overbought zone, if it shows resistance near 224.93, it is likely to lead to further decline.

If it leads to a decline,
1st: M-Signal on the 1D chart
2nd: M-Signal on the 1W chart
You need to check whether it can be supported and rise near the 1st and 2nd above.

Therefore, when it is confirmed to be supported in the 224.93-228.97 range, it is the time to buy.

The first sell period is near the Fibonacci ratio 1 (238.57).

-
Thank you for reading to the end.
I hope you have a successful trade.

--------------------------------------------------