I've been following AMZN for a while as it's been range-bound for about a year while the market has continued to grind higher. I was tracking the ascending triangle and prematurely made a BUY at 3370 before the breakout, but I believe the set-up now is more attractive. We broke out of the triangle on great volume on July 6 and I was waiting for a retest of 3543 to increase my position. This level should serve as support.
Equal risk/reward ratio but I believe the odds are solidly in our favor for a bullish move. If the market stays calm and/or moves higher, I believe we could see $4,000 but for this trade, let's keep more realistic expectations.
TP: ~$3830 (+7.1%)
Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%
Pending Trades (including this post): 2
- Sultan of Chart
*This is not financial advice*
Equal risk/reward ratio but I believe the odds are solidly in our favor for a bullish move. If the market stays calm and/or moves higher, I believe we could see $4,000 but for this trade, let's keep more realistic expectations.
TP: ~$3830 (+7.1%)
Published trade statistics:
Win Percentage: 6/8= 75%
Avg Gain on Wins: 12%
Avg Loss on Losses: -13%
Weighted Avg P/L % : 5.98%
Pending Trades (including this post): 2
- Sultan of Chart
*This is not financial advice*
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.