[Premium] $AMZN 18%-20% Trade Setup If This Level Breaks

Nov24amzn

This is a trade setup for AMZN (Amazon) Nov 24, 2015 on the 30 day 1 minute chart…potential move is 18%-20% if it breaks this exact level.

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Best case scenario:  The W1 started at 623, travelled 5 waves up to 685 and corrected in a W2 to test previous 4 support at 659 (held 660)…now the rally off the lows..if it takes out 679, it could form a very large Wave 3…it would make sense since it fits within the longer term Aug bottom W1-W2-W3 scenario…800 could be hit by Jan or as early as late Dec very quickly based on this powerful formation.  So I’d wait or place a stop to buy a 679 to setup this move.

Worst case scenario: Failure at 675 and a full C wave drop to test 618 support at 650.   To prevent this scenario I’d simply wait until 786 breaks at 679 first before going gung ho here.

What I’d do:  I’d go ALL IN At 679 if it breaks today as this is a 1-2-3 setup following the SPX And COMP.

 

 

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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