$BABA TOP 20
Added 2024-10-09 10:32:05 +0000 UTC$BABA is at the 0.236 Fib level now in the PM, so I believe we are in Wave 4 and still more downside over the next few sessions before a relief bounce for wave B of this Wave 4.
We can see that the 50 and 200 Day MA's are quite low here as the Wave 3 bounce was fast and aggressive, so this tells me that the price action should take its time to pull back to allow the moving averages to move higher
Price action never veers too far away from the moving averages and right now the 50 Day is all the way down at $87, so the slower this pull back takes the better.
So I am not adding until I see 3 clear waves in Wave 4.
Comments
Thank's Cap!!
Sol
2024-10-09 13:22:45 +0000 UTCClear direction thank capt
Richard
2024-10-09 11:17:25 +0000 UTC
