In this blog, I want to share some short-term Elliott Wave charts of Amazon which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 07/23/18 indicating that Amazon ended the cycle from 06/25 low in red wave 1.
As Amazon ended the cycle from 06/25 low, at the high of around 1860 (07/18 peak). It started a pullback lower in red wave 2. The pullback proposed to unfolded as an Elliott Wave double correction. Due to the right side bullish stamp, which you can see in the chart below. We advised members that we like buying Amazon at the equal legs from 07/18 peak. Therefore, we expected buyers to appear in the dips in the sequences of 3, 7 or 11 swings. At the 100 – 1.236 Fibonacci extension of black ((w))-((x)). Which came at around 1786.77-1775.40 area. And that was the first area for buyers to appear to take prices to new highs above wave 1 peak or a larger 3 waves bounce at least.
Amazon 07.23.2018 1 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart, you can see that Amazon reached the blue box area and bounced nicely higher. Our members bought the equal legs from 1786.77+ areas and any trade from that area where risk-free by that time, targeting higher levels. So our members were holding a risk free position. Do please keep in mind that the 1-hour chart which I presented have already changed. If you want updates every day. I can recommend you to take a 14 days FREE trial below.
Amazon 07.24.2018 1 Hour Chart Elliott Wave Analysis
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