Forex Trading Library

AMZN Impulsive Trend Could Send Prices Lower

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The current AMZN structure shows the formation of a bullish impulse consisting of primary sub-waves ①-②-③-④-⑤.

The first four waves are fully complete. The final wave ⑤ is an intermediate degree impulse.

In the medium term, a move in the intermediate sub-waves (3)-(4)-(5) to 3892.12 is likely.

At that level, wave ⑤ will be at 61.8% of the primary impulse wave ③.


Alternatively, the corrective wave ④ is not yet complete. The said wave takes the form of a bearish zigzag of the intermediate degree.

After minor zigzag correction wave (B) has ended, prices are expected to decline in the impulse wave (C) to 2526.97.

At that level, corrective wave ④ will be at 61.8% of primary impulse ③.

After the end of this correction, the market could rise in the final primary wave ⑤.

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