AMZN is testing a high-confluence support area, with price sitting at the mid-line of the broader rising channel while also interacting with the bullish WCL of the pink sequence.
Under normal conditions, this would be a strong location for buyers to respond.
However, the higher-priority issue is that the bearish red sequence from the all-time high still has an active C target below current price. That leaves downside pressure unresolved and prevents me from treating this support as a clean bullish continuation zone.
Because of that, I see this area as a likely reaction zone, not yet a confirmed reversal zone.
The most logical path from here would be:
So the level is strong.
But the bearish sequence is still unfinished.
That conflict is what makes this chart interesting.
Under normal conditions, this would be a strong location for buyers to respond.
However, the higher-priority issue is that the bearish red sequence from the all-time high still has an active C target below current price. That leaves downside pressure unresolved and prevents me from treating this support as a clean bullish continuation zone.
Because of that, I see this area as a likely reaction zone, not yet a confirmed reversal zone.
The most logical path from here would be:
- a bounce from current support
- a move back into the red BC
- then a decision on whether sellers step back in to complete the bearish C
So the level is strong.
But the bearish sequence is still unfinished.
That conflict is what makes this chart interesting.
交易手动结束
Price gave no bearish entry for reaching C.
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