AMZN Trade of the Week Update
Our goal is to teach newcomers and be completely transparent in all our activities. You often see posts after the fact from someone bragging about a winning trade, but never any posts about the trade before it is enacted. Our trade of the week, AMZN, which we mapped out over the weekend, is working just as we planned. We initiated the trade through 584-585 resistance, put our stop in at 575 (red line) and declared we were looking to take some profit around the 100 day moving average in the 605 area. Today, we sold 50% of our stock in front of 603 just as we planned, knowing the market is due for some sort of a pullback with this huge gap up. Our plan the rest of the way is to trail the remaining 25% of our position on the hourly 8ema as pointed out with the arrow. The remaining 25% will be a daily trail, dependent on how daily candles close. We believe our transparency in our trades and teachings is what separates ourselves from all the phonies you see on social media.