$BABA lesson time.
Added 2023-01-04 12:20:45 +0000 UTCSo I think this is a really good opportunity to take a lesson here.
If we look at the past chart of Baba, where it completed an Impulse Wave 1-5 move, we can take a lot from this, between 2016-2018.
Wave 1 completed, it then went right back up to retest the highs of Wave 1 twice before coming down substantially to complete Wave 2, almost the full length of Wave 1.
It found support above the bottom of Wave 1 and then started it's 4 year climb from ironically the exact same Price $58 to $210.
This is what we want to see now, yes it may go a little higher to complete Wave 1 or this is the B wave of Wave 2 but ultimately this needs to pull back to show its true strength.....if it does not pull back, then this is not Wave 1, this is an A Wave and we do not want that.
Comments
A few gaps now when looking at 9988 too
Yaz
2023-01-04 13:09:27 +0000 UTCThe last line answered my Telegram question... Thx Gareth.
Steve Suric
2023-01-04 13:03:06 +0000 UTCThanks for that :) What would happen if it's A wave? What would the move be like for something like that?
Yaz
2023-01-04 12:57:41 +0000 UTCIt's incredible that going back into the past, almost 6 years ago, W - 1 and W - 2 are at the same prices and behaving very similarly
Gareth Neary
2023-01-04 12:26:25 +0000 UTCAwesome! Needed that longer past timeline view to pull it all together.
SLim
2023-01-04 12:23:43 +0000 UTC
