Simple incredible by the HSI, within a whisker of the 1.618 Fib for our Wave 3 target and on the same day the 50 Day MA is about to cross through the 200 Day MA for a golden cross.
There is undoubted strength here and a pull back for Wave 4 will be needed shortly and I want to see more control.
We have an aggressive move here but for me, it is only acceptable in a Wave 3, otherwise it is a concern, a pull back for Wave 4 will really strengthen the structure and allow $BABA to pull back too so we can take advantage.
Carlsen Philip
2024-05-21 13:18:34 +0000 UTC