The first chart is the daily timeframe of AMZN. As you can see after gapping up and running up on earnings last month, AMZN has been in a basing pattern for almost a month. Friday's bar was NR on low volume. The rising 10 day EMA was supporting price and I was watching it on the open as I anticipated a break.
The second chart is the 15 minute timeframe which highlights the base and break pattern at the ORH. I took a partial as price weakened just above the 38% Fibonacci extension and tightened the stop to the 25% extension. Once price had taken out the 62% extension it really started to accelerate on high volume. The euphoric volume spike foreshadowed the end of the move so I tightened my stop and was taken out at $68.20.
The last chart is the 1 minute timeframe, which shows how I scaled into my position. First on a base break at $64.50 and again at $65.00.
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