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 .
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.