Amazon (AMZN) Technical Analysis and Trade Idea

#AMZN has demonstrated a robust bullish trend, recently leaving a notable price gap between 167 and 162. Given the extended move, a retracement back into this gap appears likely as the market seeks equilibrium before March.

Potential Trade Setup:

- Entry: Consider a short position near the current range high.
- Stop Loss: Employ a stop loss 1.5x the Average True Range (ATR) on the daily (1D) timeframe.
- Rationale: This setup targets potential overextension and aligns with the anticipated price rebalancing.

Important Disclaimer:

This analysis reflects my personal market interpretation and does not constitute financial advice. Always conduct your own independent research and thorough risk assessment before making any trading decisions.