AMZN Trade Idea Follow Up (short)

Remember, we are looking for a head fake trade in AMZN. There are more details about it in yesterday's AMZN Update

Here are the charts this morning...

 AMZN posted thus far what looks like a near perfect "shooting star" reversal pattern, today could be the confirmation dat. A daily closing candle that bearishly engulfs yesterday would be confirmation of the reversal.

Last week we were looking for a breakout above $200 in AMZN to set up a potential head fake short trade. Yesterday a lot of damage was done to the 5 min chart. This weakness hasn't made it to the longer term charts yet, but I suspect it will start filtering in to them today.

 The 2 min chart also suggesting the breakout above $200 was being used to sell in to.

Short term this morning the 1 min chart shows what will likely be a consolidation here or maybe a bounce. It's the engulfing candle we are really looking for.