Fibonacci Setup In AMZN

Among this week's top calls, we highlighted a support zone in AMZN in a video earlier this week. That zone, in the 207.03-35 area, was tested and held, and then triggered a swing trade entry on the 15-minute chart (see below).

AMZN has now met target 1 and is shooting for target 2 at the 225.25 area. Since we've met our first target we are trailing up stops on longs.  So far we've seen a rally of $15.93 off that first key support.  Setups don't always hold, however, and this is why we place our stops below the setup zone in the case of a buy entry!