$AMZN, Bullish Towards $195

2024年10月7日

Hey ya'll,

The chart above highlights Amazon (AMZN) on the daily timeframe.

I've added #thestrat indicator, MACD, and RSI indicators.

I've marked the Fibonacci price points from low (Aug 28) to high (Sep 24).

Normally, I would've gotten in at the 0.618 fib retracement ($179.02) or the 0.5 fib ($182.15) but I would still take a 3+ week out options contract.

If price goes above Fri, Oct 7th high of day (HOD) @ $187.60, but 1 strike out of the money.

If price opens below Fri, Oct 7th's HOD, wait for it to either reversal at the previous low of day (LOD) or at whatever point.

Entry: $187.61 (above prev daily high)
Target: $190.86 (Fri, Sep 27 open price)
SL: $185.13 (tight under 0.382 fib)
R:R = 1:1.32
MACD = curling up
RSI = curling up, low 50s

Potential Contracts:
$190c 11/15 @ $8.00 (ITM)
$185c 11/15 @ $10.55 (1 OTM)

2024年10月14日

註釋

I didn't take any of the calls after seeing we opened $4 lower than we closed ($186.51 -> $182.95). On Monday, Oct 7th, price opened under the $185.13 and touched the previous week of low (on Thursday, Oct 3rd).

In hindsight, I should've taken a call on Wednesday, Oct 9 after price exceed Tuesday, Oct 8ths high.

Price looks like it wants to keep going to all-time-highs.

I'm going to sit on the sidelines for now.

P.S. the 190c were (OTM not ITM) and 185 were (ITM).