Making $5K with $20K each month

[PennyTrader]

AMZN downtrend chart on hourly, bounce to 61.80 on that 150 tick chart.

 

[gaj]

Quote from PennyTrader:

If I can short, I would short on the way down instead of on the way up, not doing counter-trend trading, a red day finish would do it,

i prefer the same as well, but after such a hard run, i usually put out initial small positions, on the chance that it runs hard *and* i can't short it later, so there won't be much pain.

i put on the size after i see a top in place.

 

[PennyTrader]

The upper downtrend channel on 150 tick chart is at 61.90:

 

[PennyTrader]

Or going short right here on the small trend channel break and volume change candle, $61.68 is the pivot.

 

[PennyTrader]

Amazing how long it trades around 61.68, quite a battle around the pivot between long and short:

 

[PennyTrader]

AMZN - a "M" is in making after touched the upper trendline -

 

[yc47ib]

AMZN, from my indicators, might get up to squeeze another, maybe final, group of shorts, at 62, 62.25, 62.75, 63; but maybe not higher than that. Just my thought, I am curiously watching, refrain myself from trading it at all.

 

[PennyTrader]

A M formation is done. Possible higher low (test bottom):

 

[PennyTrader]

Go long if break that downtrend channel:

Quote from yc47ib:

AMZN, from my indicators, might get up to squeeze another, maybe final, group of shorts, at 62, 62.25, 62.75, 63; but maybe not higher than that. Just my thought, I am curiously watching, refrain myself from trading it at all.

 

[PennyTrader]

Again, pulling back from the upper down trendline: