Back on April 14th, I posted this chart on AMZN
So far it's right on script thus far, we got the push higher to test previous highs
and now seeing if the reversal will follow to complete the longer term (13 year)
consolidation pattern down to long-term support within this very big 20%+ bull flag
that should ultimately resolve to higher prices.
Of course, it can take off from here as well. But from a risk-reward standpoint
this is a key area for both short-term bears & long-term bulls. Key areas
do not occur every day so it is important to be able to identify and take
advantage of the great risk-reward.
So far it's right on script thus far, we got the push higher to test previous highs
and now seeing if the reversal will follow to complete the longer term (13 year)
consolidation pattern down to long-term support within this very big 20%+ bull flag
that should ultimately resolve to higher prices.
Of course, it can take off from here as well. But from a risk-reward standpoint
this is a key area for both short-term bears & long-term bulls. Key areas
do not occur every day so it is important to be able to identify and take
advantage of the great risk-reward.
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Like clockwork!
Real Macro Economic Investing
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