The Long Investor

$BABA UPDATE

Added 2023-04-19 18:30:36 +0000 UTC

This Subwave 4 is starting to look at little messy and long, that being said, it is still valid, we saw with $NIO too, the Subwave 2 was longer than expected but it worked out fine in the end. The main thing is, it has held the 0.618 almost exactly today and bounced and recovering nicely to end the session. The RSI is also just above 30 on the 1hr, so this is exactly where we want to see it as we start Subwave 5.

I want to start seeing some strength now from $BABA, I need to see it go above Subwave 3 at $105 so I can eliminate the amber line here which is the alternate view that this can come down to the buy zone below $71.

Once Subwave 5 is hit, I have no concerns.