$BABA TOP 20
Added 2024-09-19 11:35:44 +0000 UTC$BABA is at $88 now in the PM after a strong day in Asian markets and the HSI jumping +2%
This impulse wave 3 has been immaculate and there was a lot thrown at $BABA to potentially derail its ascent but the theory protected us and we stuck with this.
Wave 3's are typically quite strong and we have seen on a lot of charts how the 1.618 Fib acts as a magnet
As I said earlier in the chat group, let's give the price action time to move higher and reject before it pulls back for what I see as Wave 4.
I likely won't be playing the smaller waves with $BABA and just ride this out up to Wave 5 and then consider preparing for the ABC pull back.
We are sitting on very nice profits here with $BABA, time to leave it be a hedge as well as being an undervalued position.
