[Premium] AMZN (Amazon) Swing Trade Setups Using 3 Month Chart (Long And Short) [Setup Expires 3-5 days]

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These are the short term setups for AMZN long and short using the 3 month chart:

Long side: AMZN’s first wave was 450 to 550 or 100 points, and it dropped in a zigzag W2 to 490, held support and broke above 550 into a “3 from heaven” Wave 3.  Highest 2.618 target on a 3 from heaven would be [ms-protect-content id=”61″] 750-760 short term. That’s based off the length of the 100 point first wave.  Any move above 675.64 or 1.00 at this moment would be a buy, and conservatively placed due to the iffy market we’re seeing at the moment.

Short side: Worst case scenario: Since it’s past 1.618, 2.618 is the logical move to the 750-760 range..do not dare short this thing at all as I’ve seen the market plunge and AMZN rocket and the relative strength is insane.

Where I’m leaning:  Buy dips, buy over 675, and hold your nose in a long term way.  750 is a pretty huge target in 1-3 months, and I expect AMZN to hit that level quickly. [/ms-protect-content]

 

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