$BABA TOP 20
Added 2024-05-21 15:42:45 +0000 UTCPulling back in the nick of time.
I said at the weekend that $BABA had gone above its 1.618 Fib for Wave 3 and I did not want to see it go any higher before pulling back for Wave 4 and this is what we are getting now, which is great to see.
The momentum was certainly with $BABA last week post earnings, so no surprises to see it overshoot the 1.618 Fib but as long as I see a 3 wave pull back now, I am happy
The HSI has started its pulled back now finally too.....although parabolic moves are great when you are in them, I would always take a controlled move over a parabolic rise, structure and certainty is where we can really capitalise on our positions by executing accurate entries and exits.
So $BABA pulling back here to the 0.38 Fib at $82 and holding and we have our buy signal.
Operations normal here folks.
Comments
Alternatively we could have only made 3 sub waves up of 3 so reaching the 2 fib first to complete sub wave 5 of 3 possible
Byron Tanigawa
2024-05-22 05:20:41 +0000 UTCGreat look-ahead Captain and so far so good π€π»
Federico Salerno
2024-05-21 15:56:11 +0000 UTC
