$BABA
Added 2022-12-04 18:29:03 +0000 UTCWe really need to see a pull back shortly to reinforce this structure.
5 very clear counts now to complete W - 1, so an ABC count to complete W - 2 is perfect now.
A pull back anywhere to between $80 - $70 and finding support is where I will be looking to add.
Comments
Yes this Pre Market run is incredible and extending now, I’ll make another chart to see how far it will go but I wouldn’t be rushing in here with BABA going from $57 to $93 without any pull back.
Gareth Neary
2022-12-05 11:37:02 +0000 UTCDoes the run up in pre market make the count invalid, since it will be higher then the yellow line at $92?
Yuri van Huisstede
2022-12-05 11:32:09 +0000 UTCYes but only slightly, I think for BABA, the latest run has absorbed the audit news and is anticipating it to be a good result. Remember, pullbacks are incredibly healthy and the market wants to see it and expects it, so we could see a situation whereby, its a buy the rumour and sell the news and this comes back to our buyzone target.
Gareth Neary
2022-12-04 18:42:29 +0000 UTCDoes a structure get invalidated if news affects it and forces it to go up? I’m guessing the SEC audit news comes out during the time the structure is showing downward. This would force a sharp move up.
Steven
2022-12-04 18:34:39 +0000 UTC
