BABA technicalsBABA is up +91% from its October 24th, 2022, low of $58 to a close of $111 today, January 9th, 2023. BABA is a high probability short now based on this technical analysis. On the BABA 1 day chart, pi RSI is getting overbought and TTCATR(beta) closed at the top of its main resistance level. Here's BABA technical levels on the 1 day chart:
SMA200 = $91.82
VWMA 20 TTCATR(beta):
top = $112.20
R3 = $106.28
R2 = $100.35
R1 = $94.42
pivot = $88.50
S1 = $82.57
S2 = $76.65
S3 = $70.72
bottom = $64.80
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*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
BBMC - bollinger bands
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
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