Taking the 2023 low (around $81) as the base of this structure, On a longer term weekly chart , Amazon has completed four waves of a larger impulse, and price now looks to be in Wave 5.
What stands out is how Wave 5 is unfolding. Instead of a clean, impulsive five-wave advance, the current leg looks like an ending diagonal:
Overlapping sub-waves: sub-wave 4 has dipped into sub-wave 1’s territory, which a regular impulse doesn’t allow but a diagonal does.
Three-wave internals: the sub-waves look corrective (zigzag-like) rather than impulsive, which is typical of diagonals.
Sub-wave 4 of ending diagonal looks to be complete when it touched its low support line and a reversal from this area is possible up to the upward resistance line , beginning the sub-wave of the diagonal .
What stands out is how Wave 5 is unfolding. Instead of a clean, impulsive five-wave advance, the current leg looks like an ending diagonal:
Overlapping sub-waves: sub-wave 4 has dipped into sub-wave 1’s territory, which a regular impulse doesn’t allow but a diagonal does.
Three-wave internals: the sub-waves look corrective (zigzag-like) rather than impulsive, which is typical of diagonals.
Sub-wave 4 of ending diagonal looks to be complete when it touched its low support line and a reversal from this area is possible up to the upward resistance line , beginning the sub-wave of the diagonal .
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.