AMZN - 2.35 RR setup
Morning traders,
Looking at the weekly chart we can see we printed an indecision doji last week. With tariffs being enforced I expect all product heavy companies to begin taking a hit next week.
My plan is to buy month out OTM contracts I'm targeting the 0.382 of the bullish structure with coincides with a major support zone, it may take til the end of June to reach these levels, so I will roll over puts as necessary. I will buy a put spread from 1800-1700 June-July
1) We can see RSI is about to turn on its averages, confirming weekly downtrend
2) RSI is exhausted and curving downwards
3) Slowstoch is bearishly crossing in overbought territory
4) MACD is signalling first downward tick of momentum
5) VFI is neutral
6) Stoch RSI is bearishly crossing
As always, hit that like and follow button, and remember to trade safe next week
Looking at the weekly chart we can see we printed an indecision doji last week. With tariffs being enforced I expect all product heavy companies to begin taking a hit next week.
My plan is to buy month out OTM contracts I'm targeting the 0.382 of the bullish structure with coincides with a major support zone, it may take til the end of June to reach these levels, so I will roll over puts as necessary. I will buy a put spread from 1800-1700 June-July
1) We can see RSI is about to turn on its averages, confirming weekly downtrend
2) RSI is exhausted and curving downwards
3) Slowstoch is bearishly crossing in overbought territory
4) MACD is signalling first downward tick of momentum
5) VFI is neutral
6) Stoch RSI is bearishly crossing
As always, hit that like and follow button, and remember to trade safe next week
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Twitter: twitter.com/Jedi_ant
Twitter: twitter.com/Jedi_ant
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