Trade the Retracement of AMZN Amazon for early December

Pulling strongly trend stock Amazon.com (AMZN) is currently backwards in retracement mode after six consecutive days of rise in earnings.Let's take a look at the current decline, noting key target levels and plan for contingencies if the strong trend resumes before downside trading targets are achieved.In the context of trend pro stocks, especially those of "strong and getting stronger," we usually expect to (buy) positions on the setbacks of the rising trendlines, moving averages, or even Fibonacci Retracements (for traders).At the present time, Amazon.com shares are pulling back or tracing down from the recently reached $400.00 by high action and they did so on a gap in place and the reversal of the trend level intraday target "round number".A simple look at the daily chart shows us that logic first support downside target would be the confluence of the November swing high (note red reversal candles) in the day 20 rising EMA overlap $370.00 per share.Failure (breakdown) as $370 per share suggests a deeper decline may continue to $350 (let's not beat ourselves again).We can abandon the prospect to graph intraday for more details in the planning of the strategy:We expect the intraday chart or bottom of the frame to see additional details - and the potential of "overlap" of levels of indicators/targets - that we cannot see on the daily chart.The central point of the daily chart is the $370 per share target level, we see a more potential target of support which is near $375 or the 38.2% Fibonacci Retracement.Although not guaranteed, it would be logical to see a decline in the mouth (overlap) the Fibonacci Retracement "in halfway" or 50% at $370, which develops in the top of the mid-November and the day 20 EMA.Amazon.com (AMZN) shares would normally trade logically in the area of $5.00 between $370 and $375.A failure for this logical outcome happen-intentioned buyers advance in these objectives to continue the upward trend - suggests an upcoming extra resistance (targeting a breakout above $400).A deeper decline and collapse under $370 would send away from trading (supply and demand) message, advocating a potential disadvantage play to $350.Continue the updating of your cards and monitoring price action to these levels.Follow as well as members of the commentary daily and idealized trades summarized for updates in real-time and commercial additional planning parameters that we look at a 'hold and bounce' or 'break and retrace' scenario unfold in the near future.Corey Rosenbloom, CMTAfraid to Trade.comFollow Corey on Twitter: http://twitter.com/afraidtotradeNew book by Corey The Complete Trading Course (Wiley Finance) is now available with the new version taking advantage of the life cycle of a trend Stock (also at Wiley) presentation.