Amazon (AMZN) - Edition #1
Macro Outlook: ๐ Bullish ๐
- June's monthly chart closed above previous all time high.
- This type of candle closes on a higher timeframe like the monthly charts, show lots of strength and possible continuation to the upside.
What to expect for Monday's open?
- Ideal long entries will be at around $180 - $170.
- Invalidation of trade upon price sweeping below $160.
- Markets are irrational, keep in mind price might just keep moving upwards before making a substancial retrace.
- Making a small market buy at Monday's open price might be smart.
- Remember to dollar cost average your way in and keep powder at hand.