AMZN Symmetry Setup - Market Analysis for Jan 14th, 2022

Here is another example of a simple symmetry setup. The definition of symmetry is similarity or equality when comparing market swings in the same direction.  

This time in AMZN, a simple projection of a prior rally swing of $211.39 gave us the area of 3337.48 to watch for a possible failure to the downside and sell entry.  Note that the two swings up were very similar at $211.39 vs $211.47.  

So far we've seen a downside move of $141.55 off of symmetry resistance.  At this point we would be trailing down stops on the shorts.  

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.