AMZN was an earnings gap as discussed in Thursday's post. I placed my fibs from PDH to ORL. Price consolidated in the retracement zone and rolled over. Took a partial after 3WRBs and closed the position after AMZN carved out a hammer after tagging the weekly pivot P.If the 20 EMA holds as resistance in early trade Monday, we could get a continuation play as we did with QCOM after its earnings gap.
QCOM was an earnings gap short on Thursday, but relatively disappointing given that we didn't get more sellers. The late day move up towards the downsloping 20 EMA proved to be resistance as it had no follow through and breached the PDL in early trade Friday for a gap continuation play.I'll be watching AMZN for a similar setup tomorrow.
AAPL - Scalp trade - I knew that AAPL would attempt to BO of the base forming at the blue line. Once the triangle formed, it allowed for an early entry. Good thing, because the rally out of the base turned out to be lame.
