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.
Giao dịch được đóng thủ công
Price gave no bearish entry for reaching C.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.