Everyone is talking about the 1000 level in Amazon but the projected Fibonacci resistance is between 1056 and 1069.
I am not an EW expert but I believe this is the end of wave 5 of 3 and wave 4 could be shallow and There is no Fibonacci resistance at 1000 in AMZN
Using Fibonacci projections from lower corrective swings resistance levels are 1060 and 1206.
Shorts can try the 1056-1069 with a tight stop - because wave 3 cannot be the shortest then this current move higher should not exceed 1083 or the count is wrong.
I am not an EW expert but I believe this is the end of wave 5 of 3 and wave 4 could be shallow and There is no Fibonacci resistance at 1000 in AMZN
Using Fibonacci projections from lower corrective swings resistance levels are 1060 and 1206.
Shorts can try the 1056-1069 with a tight stop - because wave 3 cannot be the shortest then this current move higher should not exceed 1083 or the count is wrong.