This looks like a diamond pattern on AMZN.
I have taken puts here with the stop just a little way above (it would have to break this level to invalidate the pattern in my view).
The diamond pattern is clear.
There is the initial high, the low, the higher high, the lower low, and the return to the original range.
I have no idea why or what fundamental reason could cause AMZN to dip here, but, fundamentals don't work in this market and I have to trust the price action (but with tight stops and take profits naturally)
If it resolves, it will conclusively break the lower trendline. I suspect that the bottom will be the point-of-control on the volume profile.
If it invalidates, it will take out the September highs and this will correlate to the SPX and NDX melt-up.
Trade carefully and watch this form closely.
I have taken puts here with the stop just a little way above (it would have to break this level to invalidate the pattern in my view).
The diamond pattern is clear.
There is the initial high, the low, the higher high, the lower low, and the return to the original range.
I have no idea why or what fundamental reason could cause AMZN to dip here, but, fundamentals don't work in this market and I have to trust the price action (but with tight stops and take profits naturally)
If it resolves, it will conclusively break the lower trendline. I suspect that the bottom will be the point-of-control on the volume profile.
If it invalidates, it will take out the September highs and this will correlate to the SPX and NDX melt-up.
Trade carefully and watch this form closely.
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免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。