BABA 1hr wedge down
Title pretty well sums up this idea.
BABA currently has formed a wedge down around previous areas its bounced. If you dont know what a wedge down pattern is, search it
Would like to see some green days before going long. Keep in mind, it has not showed signs of breaking its current downtrend yet on the hourly, and may very well continue to go down. However, speculatively, it is at previous support with a pattern that tends to work well.
BABA currently has formed a wedge down around previous areas its bounced. If you dont know what a wedge down pattern is, search it
Would like to see some green days before going long. Keep in mind, it has not showed signs of breaking its current downtrend yet on the hourly, and may very well continue to go down. However, speculatively, it is at previous support with a pattern that tends to work well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.